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Patreon lays off 13% of workforce

techcrunch.com

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Re: Patreon lays off 13% of workforce

#4

Post by tempsy »

This company never made sense to me from a “venture scale” perspective. It’s big, sure, but are the financials really ever going to be strong enough to go public? I guess I don’t see it.

Also annoying to basically admit that layoffs were basically avoidable given the “strong cash position” but made anyway to give the company a little more runway. Doesn’t look too great.

Re: Patreon lays off 13% of workforce

#5

Post by foota »

tempsy wrote: post #4

This company never made sense to me from a “venture scale” perspective. It’s big, sure, but are the financials really ever going to be strong enough to go public? I guess I don’t see it. Also annoying to basically admit that layoffs were basically avoidable given the “strong cash position” but made anyway to give the company a little more runway. Doesn’t look too great.

That's a fiscally wise decision. Better for the company and employees to let people go now to avoid having to do mass layoffs later if shit really hits the fan.

Re: Patreon lays off 13% of workforce

#8

Post by icelancer »

foota wrote: post #5
tempsy wrote: post #4

This company never made sense to me from a “venture scale” perspective. It’s big, sure, but are the financials really ever going to be strong enough to go public? I guess I don’t see it. Also annoying to basically admit that layoffs were basically avoidable given the “strong cash position” but made anyway to give the company a little more runway. Doesn’t look too great.

That's a fiscally wise decision. Better for the company and employees to let people go now to avoid having to do mass layoffs later if shit really hits the fan.

Especially while unemployment is paying $2400/month on top of your normal payment. Many workers are better off just being temporarily laid off and getting a pay raise.

Re: Patreon lays off 13% of workforce

#9

Post by Nextgrid »

I don't really understand why Patreon needs so many employees. We're talking about almost 300 people to just supervise a fully automated process. The tech has already been built almost a decade ago and hasn't changed much, so it can't require that much engineering work. It's also an easy problem (take X amount of money, divide it between Y people, pay them out) and they ironed out any potential issues over the years.

For what it's worth I've stopped using Patreon when they included some Facebook tracking (among others) on the membership management page that when blocked will crash the entire front-end and make the entire page unusable.

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