Reddit Lays Off 5 Percent Staffs, Will Reduce Hiring in 2023

Reddit said on Tuesday declared that it is laying off about 5 percent of its workforce, or 90 employees. Tech companies including Meta Platforms have been slashing jobs because of an economic downturn.

The Wall Street Journal first reported Reddit’s move on Tuesday, citing an email sent to employees from Chief Executive Steve Huffman.

Huffman said the company would also reduce its hiring for the rest of the year to about 100 people from an early plan of 300, according to the WSJ report.

Reddit, which was founded in 2005 by Steve Huffman and Alexis Ohanian, has more than 50 million daily active users and over 100,000 communities.