Reddit to lay off about 5% of workforce: Report
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Reddit is laying off 5% of its workforce and slowing hiring as part of company's restructuring efforts, the report said
    • The Cuuuuube@beehaw.org
      0·
      1 year ago

      For sure it’s unconfirmed. The only things we really know for sure are:

      1. Reddit wants money for API calls
      2. Their monetization structure is unreasonable
      3. The only possible outcome of their monetization structure is the death of third party apps
      4. Reddit is an American company and conducts itself with the same grace and farsightedness as most of them

      Which leads be to the conclusion that the thing you’ve said is quite possible

      • LoreleiSankTheShip@lemmy.ml
        1·
        1 year ago

        I’m not American, but isn’t it mandated by law over there to do stuff like this, to create the maximum profit for shareholders?

        Forgive my ignorance of US laws!

        • The Cuuuuube@beehaw.org
          1·
          1 year ago

          No such laws. The only laws for publicly traded companies are that they must be open and honest with shareholders about the financial status of their organization. You’re very much allowed to run a business that stays small forever