Stack Overflow To Cut 28% Staff In Second Round Of Layoffs
In its second wave of layoffs this year, Stack Overflow is laying off 28 per cent of its personnel. Earlier this month, the firm laid off 10 per cent of its workforce.
"This year has brought its own set of opportunities and challenges, from the successful launch of Overflow AI to addressing the dynamic fluctuations in customer budgets due to macroeconomic pressures affecting the entire tech sector," stated Prashanth Chandrasekar, CEO of Overflow AI in a company blog.
Furthermore, he added that the company has launched on a profitable trajectory while maintaining its dedication to product innovation. Among its most important objectives are the development of Stack Overflow for Teams and the extension of its AI and Machine learning ML capabilities.
The corporation stated that it has taken many steps to optimise its operations and spending. These improvements were made with the intention of minimising negative impacts on its committed crew of "Stackers."
However, the CEO of the company stated that the steps implemented were insufficient to satisfy the company's objectives and that additional manpower reduction was required.
