Matt Mullenweg, the CEO of Automattic, the parent company of WordPress, Tumblr, and Woocommerce, has announced a 16% workforce reduction to cut expenses (estimated around 280 employees out of a total of 1,744).
Despite the company’s revenue growth, expenses have also increased significantly. The excessive number of employees has led to a slow workflow, prompting the need to restructure the company to ensure long-term readiness for the future.
Employees affected by the layoffs, spread across 90 countries, will receive compensation packages and can immediately utilize company-issued notebooks.
Source: Automattic, Yahoo Finance
TLDR: Matt Mullenweg, CEO of Automattic, announces a 16% reduction in the workforce to streamline operations and prepare the company for long-term success.
Leave a Comment