I'm writing today to share that I’ve made the very difficult decision to reduce our workforce by about 10%, or 58 employees.
First and foremost, I want to recognize the impact this decision has on employees who are directly affected. This is painful for them, and we are supporting those employees through this transition with severance packages, extensions of healthcare benefits, and outplacement services. As CEO I take full ownership of this decision and it weighs heavily on me. To those of you affected, I want to extend my deepest gratitude for your contributions to the company and for all of your hard work.
Our focus for this fiscal year is on profitability and that, along with macroeconomic pressures, led to today’s changes. They were also the result of taking a hard look at our strategic priorities for this fiscal year as well as our organizational structure as we invest in the continued growth of Stack Overflow for Teams and pursue agility and flexibility as we launch AI/ML-focused offerings in the months ahead. Our commitment is to continue to provide our customers with the level of service they expect and to the users of our public platform—the knowledge they’ve been seeking from Stack Overflow for nearly 15 years.
Next week I’ll share another blog post on the business looking at fiscal year Q4 in review and the road ahead. I appreciate your patience and kindness as we navigate through this difficult time.