In this photo illustration, the Patreon logo seen displayed on a smartphone screen.
/SOPA Images/LightRocket via Gett
The San Francisco tech company Patreon announced mass layoffs to the tune of nearly a fifth of its staff.
In a message sent to staffers and posted publicly Tuesday morning, CEO Jack Conte announced that 17% of Patreon staff — around 80 of its 470 staffers — will be laid off across departments, including sales, finance and operations staffers. A spokesperson confirmed the layoffs to SFGATE but declined to provide further comment.
“Over the last 9 months, we’ve seen the tech industry — and the whole economy — change considerably,” Conte said in the message. “Many of you have asked me about layoffs at All Hands meetings as we’ve set out to tighten our focus, and I’ve said that layoffs would be a last resort. Today we are taking that step, and I am deeply sorry to the kind, talented, creator-first people who will be leaving Patreon.”
In addition to the 80 people laid off Tuesday, the company confirmed a TechCrunch report from last week that five employees in the company’s security department will also be laid off. As a result of these layoffs, the company will be shuttering its offices in Dublin and Berlin.
Patreon was founded in 2013 as a way to help support content creators through monthly subscriptions. In September 2020, it snagged the coveted unicorn status, earning a $1.2 billion valuation in a funding round.
Affected employees will receive three months of severance, plus an additional two weeks for every six months of employment after the first year. Employees will also receive “extended” health care, equity vesting opportunities and “job placement support.”
Conte assured remaining employees that there is a “second Renaissance” at the company, perhaps a sentiment better left unshared with laid-off employees.
