Stack Overflow has laid off 10 per cent of its workforce, or 58 employees, amid global macroeconomic pressures and focus on profitability.
Prashanth Chandrasekar, CEO of Stack Overflow, question and answer website for programmers, said that the layoffs were also the result of taking a hard look at its strategic priorities for this fiscal and its organisational structure as the company invests in the continued growth of Stack Overflow for Teams "and pursue agility and flexibility as we launch AI/ML-focused offerings in the months ahead".
The CEO in a statement said, "I've made the very difficult decision to reduce our workforce by about 10 per cent per cent or 58 employees. This is painful for them, and we are supporting those employees through this transition with severance packages, extensions of healthcare benefits, and outplacement services."
He further said, “As the CEO, I take full ownership of this decision and it weighs heavily on me."
Chandrasekar will share more on the company's business at fiscal year Q4 in review and the road ahead next week.
Stack Overflow
Stack Overflow serves 100 million people every month, making it one of the most popular websites in the world.
Its asynchronous knowledge management and collaboration offering, Stack Overflow for Teams, is transforming how people work.
The platform offers products like Stack Overflow for Teams, Stack Overflow Advertising, Collectives on Stack Overflow, and Stack Overflow Talent.
With inputs from IANS
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