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In September, content creator membership platform Patreon added its name to the growing list of companies burned after over-investing during the pandemic. In a letter to staff on Tuesday, Patreon CEO and co-founder Jack Conte said the company would cut 17% of its workforce, or around 80 workers, from its Go-to-Market, Operations, Finance, and People teams. Conte said the company accelerated its operations during the pandemic, due in part to the rising number of people turning to online content creation amid lockdowns and stay-at-home orders, and set up a new operating plan to support that growth. Although some analysts predicted that the boom would sustain itself post-pandemic, the opposite has happened.
“As the world began recovering from the pandemic and enduring a broader economic slowdown, that plan is no longer the right path forward for Patreon,” Conte said. “I take full responsibility for choosing that original path forward, and for the changes today, which will be very difficult for our team.”
In addition to the layoffs, Conte said Patreon will consolidate its marketing team, restructure its Creator Partnerships efforts, and reduce the size of its operations and recruiting functions. The layoff news came less than one week after the company laid off five employees in its security team. One of the laid-off workers claimed those layoffs represented the entireety of the security team, although Patreon objected to that description in a statement sent to Gizmodo.
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