Reddit will lay off about 5% of its workforce

(Reuters) – Reddit is laying off around 5% of its workforce, or 90 employees, and slowing hiring as part of the social media company’s restructuring efforts, The Wall Street Journal reported on Tuesday, citing an email sent to employees by the general manager. Steve Huffmann.

Huffman added that the company would reduce its hiring for the remainder of the year to about 100 people from an initial plan to hire 300 people, according to the report.

Reddit did not immediately respond to a request for comment from Reuters.

(Reporting by Bhanvi Satija and Samrhitha Arunasalam in Bengaluru; Editing by Maju Samuel)

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