Patreon lays off 17 percent of its employees
Patreon, a platform that helps creators to generate more income from their work, has laid off 80 employees, or around 17 percent of its total headcount, amid the global economic slowdown and fears of a recession. The company is closing its Berlin office, which housed sales and marketing employees. Patreon is centralizing those operations in the US. A Dublin office is also shutting down and Patreon will offer nine engineers there the option to relocate to the US in order to centralize resources. An office in Porto, Portugal will remain open to provide support to creators and users in Europe.
The layoffs have impacted four teams — Go-to-Market, Operations, Finance and People — CEO Jack Conte wrote in a letter to employees. Patreon will offer affected workers at least three months of severance and those in the US will receive COBRA healthcare coverage through the end of the year. The company will also offer resources to help them find a new job and waive a one-year equity vesting cliff for pending stock options.
Last week, Patreon let go five members of its security team for different reasons. Conte said this “was part of a longer-term strategy to continue distributing security …read more
