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Patreon, a platform that is helping creators generate more profits from their work, has laid off 80 employees, or about 17% of its total workforce, amid a global economic slowdown and fears of a recession. The company closes its workplace in Berlin, which housed sales and marketing employees. A workplace in Dublin is also definitive and Patreon will offer nine engineers the opportunity to move to the United States to centralize resources. A workplace in Porto, Portugal, will remain open to supply to creators and users in Europe.
The layoffs affected 4 groups: Go-to-Market, Operations, Finance and People, CEO Jack Conte wrote in a letter to employees. Patreon will offer affected staff at least 3 months of severance pay and those in the U. S. U. S. citizens will get COBRA Medical Policy through the end of the year. The company will also offer them resources to locate a new task and forego a year-long inventory acquisition cliff to complete inventory options.
Last week, Patreon fired five members of his security team for other reasons. Conte said this “is a component of a longer-term strategy to continue to protect day-to-day jobs across our engineering team, bring new experience spaces to Patreon internally, and continue component with outside experts. “However, he noted that the company is expanding its investments in security.
Conte wrote that the layoffs are part of a restructuring that will see Patreon devote more resources to its products, engineering and design. However, the company is cutting its hiring and the duration of its operations.
“I am more convinced than ever that the world wants a greater economic formula for creatives, and Patreon will continue to build that formula for creators for decades to come,” Conte said. “However, the pandemic has brought volatility to the broader trend, starting with an immediate acceleration of COVID shutdowns. In response, we developed an operational plan to help this oversized growth, however, as the world began to recover from the pandemic and experienced a broader economic downturn, this plan is no longer the right path for Patreon. “
This is the newest in a long line of recent layoffs at notable tech companies. Apple, Google, Meta, Peloton, Netflix, Snap, PayPal, Unity and others have reduced or reduced recruitment in recent months.