I’m writing in the present day to share that I’ve made the very tough resolution to cut back our workforce by about 10%, or 58 workers.
At first, I wish to acknowledge the affect this resolution has on workers who’re straight affected. That is painful for them, and we’re supporting these workers via this transition with severance packages, extensions of healthcare advantages, and outplacement companies. As CEO I take full possession of this resolution and it weighs closely on me. To these of you influenced, I wish to lengthen my deepest gratitude on your contributions to the corporate and for your whole arduous work.
Our focus for this fiscal 12 months is on profitability and that, together with macroeconomic pressures, led to in the present day’s modifications. They have been additionally the results of taking a tough take a look at our strategic priorities for this fiscal 12 months in addition to our organizational construction as we put money into the continued development of Stack Overflow for Groups and pursue agility and adaptability as we launch AI/ML-focused choices within the months forward. Our dedication is to proceed to supply our clients with the extent of service they anticipate and to the customers of our public platform—the data they’ve been looking for from Stack Overflow for almost 15 years.
Subsequent week I’ll share one other weblog publish on the enterprise fiscal 12 months This autumn in overview and the highway forward. I respect your endurance and kindness as we navigate via this tough time.
