In a second round of layoffs, there will be 28 per cent job cuts at Stack Overflow. The company had laid off 10 per cent of its workforce in May 2023.
Prashanth Chandrasekar, CEO, Stack Overflow, stated in a blog that this year has witnessed not only good opportunities but also tough situations. While it successfully started Overflow AI, it also had to deal with changes in customer budgets because of economic issues affecting the tech industry.
The official blog further stated that the company is committed to the innovation of its products and that there would be no compromise on that front. Additionally, the company now wants to focus on making more profit. It is working on making Stack Overflow for Teams better and more advanced at using artificial intelligence (AI) and machine learning (ML).
Stack Overflow is a website where computer programmers can ask questions and get answers. It’s the main site in the Stack Exchange Network, and was created in 2008 by Jeff Atwood and Joel Spolsky. People use it to ask and answer questions about computer programming.
The company has implemented various strategies to streamline its operations and control expenses. These changes were carefully planned to ensure that the team experiences, referred to as ‘Stackers’, is in no way negatively impacted.
However, the CEO of the company observed that these measures, while helpful, weren’t sufficient to achieve the company’s desired objectives. As a result, it had to resort to additional staff reductions to address the current challenges and meet set goals.