Chat app Discord lets go of 40 employees in restructuring efforts
Chat app Discord has let go of nearly 40 employees (4% of its workforce) as part of the company’s restructuring efforts, according to multiple reports.
Impacted Employees Confirm Layoffs
Several former employees of Discord have confirmed on Twitter and LinkedIn that they were impacted by the layoffs. The job cuts have affected people in marketing, design, and entertainment partnership teams.
Company’s Focus on Long-Term Growth
The company has stated that it is focused on long-term growth and confirmed the layoff news to Business Insider.
Discord spokesperson told the publication: “Discord can confirm that approximately 4% of our team have been let go as part of the reorganization of some business units, and we are ensuring that those impacted are being supported. We are focused on the long-term growth of the business and delivering on our mission.”
Recent Updates and Developments
Last month, Discord introduced a Family Center as an opt-in tool to better inform parents and guardians about their children’s activity on the app. They also added a feature to allow users to directly stream Xbox gameplay to servers and DMs. In March, the Clyde bot was updated with OpenAI’s ChatGPT tech, enabling users to ask for suggestions during group chats.
Fidelity Improves Holdings Value
In positive news, last week investment firm Fidelity improved the value of some of its holdings, including Discord and Reddit. This comes after June’s decline, when Fidelity reduced the valuation of its Discord holdings to $1.7 million—an decrease of 47% since the original investment of $3.3 million made in 2021.
