Stack Overflow layoffs are here in the season of tech layoffs. As per reports, the company has laid off 10 per cent of its workforce, giving in to the season of mass layoffs.
According to a report in IANS, Stack Overflow resorted to layoffs due to the current global economic pressures. Similar to many other companies’ layoffs, even Stack Overflow took this step to focus on company’s profitability in a time when the global economic downturn is only getting serious.
Since the layoffs will impact several, Stack Overflow’s CEO Prashanth Chandrasekar has reportedly said that these job cuts were important to assess the company’s strategic priorities for the fiscal year. It was also reportedly important for continued investment in the growth of Stack Overflow for Teams along with launching AI/ML technology in the near future.
While Stack Overflow layoffs come as a shock for many, the company has assured its support in terms of severance packages, healthcare benefits and so on, for a smooth transition.
“I have made the very difficult decision to reduce our workforce by about 10 per cent per cent or 58 employees. This is painful for them, and we are supporting those employees through this transition with severance packages, extensions of healthcare benefits, and outplacement services.... I take full ownership of this decision and it weighs heavily on me,” IANS quoted Stack Overflow CEO as saying.
Stack Overflow is a platform that provides for a question and answer forum for programmers. The company is expected to give more updates on the business, in the coming week.