Reddit Laying Off About 90 Employees and Slowing Hiring Amid Restructuring
Reddit Laying Off About 90 Employees and Slowing Hiring Amid Restructuring
Reddit is making the moves to address priorities, including funding projects and achieving its goal of breaking even next year, Chief Executive Steve Huffman told employees.
I mean, this totally fits the pattern of enshittification and the extraction of all actual value to maximize shareholder returns. Cut costs, make the product shitter, spend less money and claim losses to minimize taxes so that you can MAKE BANK BRO
It's times like this where I wish "stakeholders" had a say in the matter besides just the shareholders. I know it isn't my company and they can do what they want, but it's hard to just sit here watching it commit corporate suicide. It's gone way downhill since I joined in 2008 but still.
That would be pretty fantastic, wouldn't it? I'm not sure what that would look like in practice, but I'm 100% with you. Reddit has been a pretty central part of my life for the past 15 years or so. It's really sad to say goodbye - it feels like the family dog got bit by a zombie (or, more realistically, got rabies). You've gotta put it down because the version of it that you know and love is already dead.
It’s times like this where I wish “stakeholders” had a say in the matter besides just the shareholders. I know it isn’t my company and they can do what they want, but it’s hard to just sit here watching it commit corporate suicide. It’s gone way downhill since I joined in 2008 but still.
I mean, reddit users paid for servers basically out of pocket for almost a decade. The levels of corporate greed and lack of shame are simply baffling.
_Ever considered making & delivering quality products? Where there is an high demand of? Then money will just roll in...
…and there it begins.
If you had asked me how many employees Reddit has, I definitely would have guessed a number between 30 and 60 total. What on Earth do all of these people do??
60 is way too low for the scale they have.
Lot of tech folks needed and support IT staff to keep the site running. You'd be surprised how many even non-tech companies have to keep services running (well, the good ones at least - rest overwork their folks)