Reddit said it is laying off about 5 percent of its workforce, or 90 employees, joining a list of technology companies that have been cutting jobs across corporate America.
Reddit CEO Steve Huffman in an email sent to employees said the company would also reduce its hiring for the rest of the year to about 100 people from an early plan of 300.
In December 2021, Reddit had confidentially filed for an initial public offering with the U.S. securities regulator after the company’s message boards became the go-to destination for day traders during a meme stock frenzy.
