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Patreon Lays Off 17% of Workforce

· Time to read: ~2 min

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Patreon CEO Jack Conte made the announcement in a blog post Tuesday. 17% of the workforce amounts to 80 people. Conte said over the past 9 months the tech industry and the whole economy have changed considerably.

The cuts are coming from four Patreon divisions. Conte said he’s been asked by employees about layoffs during meetings over the past year and told them they would only be a last resort. He apologized to the “kind, talented, creator-first people who will be leaving Patreon.”

Here’s what Conte wrote about the changing environment. “Patreon needs to change the way we operate. Here’s what that means for us: First, we’re going to continue increasing our investments in our product, engineering, and design teams, so that we can deliver the updates to our product that our creators and patrons need. We’ll also maintain our commitment to outstanding service and support for creators. We will restructure our marketing efforts under a smaller, consolidated team in the near-term, focused on updating our brand, developing creator resources, and launching new products. We will restructure our Creator Partnerships efforts to take a more scaled approach with a smaller, consolidated team in the US. We will reduce the size of our operations, recruiting, and other internal support functions to align with the new scale and priorities of the rest of the company.”

The company will also be closing its Dublin and Berlin offices.

Patreon’s subscription model is used by many podcasters who get their followers to pay a monthly fee for their content. While it’s very popular there have been other similar platforms that have come into the market providing a similar platform including GLOW, Supercast and Red Circle.

The Wall Street Journal reports that Patreon has over 250,000 creators (not all of them are podcasters). The Journal also reports that after Patreon raised $155 million last year the valuation of the company was $4 Billion.

Read Conte’s entire blog post HERE.

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