The United States social-media company Reddit will be slashing roughy 5% of its workforce and slowing hiring as part of its reconstructing strategy, The Wall Street Journal wrote on Tuesday citing Chief Executive Officer Steve Huffman's email sent to employees.
"We've had a solid first half of the year, and this restructuring will position us to carry that momentum into the second half and beyond," Huffman said, adding that it aims to reduce its staffing needs for the remainder of the year from an initial plan to hire 300 people to approximately 100 workers.
The news follows significant layoffs in the tech sector, among which are Amazon, Microsoft, Alphabet, and Meta Platforms.
