JAKARTA - Reddit joins the list of major technology companies that have terminated employment (PHK). As many as 5 percent of its total employee bases have been dismissed.
This means that Reddit has cut 90 of its 2,000 workers worldwide, citing restructuring operations to position themselves to break even in 2024.
"We have a solid first half of this year, and this restructuring will position us to take that momentum to the second half and beyond," said Reddit CEO Steve Huffman in an email to his employees.
Along with layoffs, Reddit reduced its recruitment plans for the remainder of the year to around 100 additional employees, who were previously expected to employ 300 people.
Reddit itself is known as a center for internet community discussions, which has more than 57 million uniquely active visitors daily engaged with more than 100,000 active communities on the platform.
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Users on the site have donated more than 13 billion posts and comments worldwide to date, according to company data in May 2023.
Launching Variety, Wednesday, June 7, Reddit was launched in 2005 and was later acquired by Condé Nast the following year.
Previously reported, Reddit accompanied by Spotify, also again laid off 200 employees. It is claimed that the podcast division was the most affected this time.
In its announcement, the company stated the move was part of their efforts to change the way Spotify handles its partnership with leading podcasters from around the world.
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