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Discord CEO Jason Citron has announced the company is laying off 17% of its staff. According to Citron, the decision was made after it became “increasingly clear” the company needed to “sharpen our focus” and “bring more agility to our organization.” The layoffs will impact approximately 170 employees.
As reported by The Verge, Citron made the announcement earlier today in an employee all-hands meeting as well as an internal memo. Citron reportedly told employees that the “difficult decision” is part of Discord’s effort to re-stabilize after the company over-expanded. Since 2020, the company has grown five times larger, yet The Verge states the company has “yet to become profitable and is still trying to revive user growth after a surge during the pandemic.”
This round of layoffs will impact every department of the company and is the largest to date. It is also the second round of layoffs in less than half a year, as Discord let go 4% of its staff just last August.
According to The Verge, Discord is not yet in dire straights, as it has more than $700 million in cash on its balance sheet. The company has reportedly been contemplating going public after turning down a $12 billion acquisition offer from Microsoft back in 2021, but is still “nowhere close to doing so.”
Discord is merely the latest tech company to announce layoffs this year. Earlier this week, poised to lay off 25% of its workforce soon.
