December 7, 2023

Stack Overflow is the newest firm to put off workers, with CEO Prashanth Chandrasekar asserting the corporate is letting 28% go.

Chandrasekar introduced the information in an organization weblog publish, citing AI and the corporate’s profitability.

Over the past 15 years, we’ve constructed Stack Overflow into an industry-crucial information base for hundreds of thousands of builders and technologists. Throughout this time we’ve skilled years stuffed with alternatives and challenges. This yr isn’t any totally different, starting from the monumental efforts to efficiently launch OverflowAI to coping with the continuing threats to buyer budgets shifting because of the macroeconomic pressures impacting all the tech {industry}. Because of this we’ve been so centered on our path to profitability, whilst we decide to the continued product innovation of Stack Overflow for Groups and the well being of the general public platform by constructing out our AI/ML capabilities. This yr we took many steps to spend much less. Adjustments have been pursued by way of the lens of minimizing influence to the lives of Stackers. Sadly, these adjustments weren’t sufficient and we’ve made the extraordinarily troublesome choice to cut back the corporate’s headcount by roughly 28%.

The exec re-emphasized the corporate’s dedication to profitability:

As I discussed, our focus for this fiscal yr and into the subsequent is profitability and that, together with macroeconomic pressures led to in the present day’s adjustments. As we refine our focus, priorities, and technique it’s to higher meet the calls for of our customers, clients, and companions as a part of this dedication to product innovation and the continued momentum of OverflowAI each for Stack Overflow for Groups and on our public platform. Our new crew construction finest positions us to succeed in relation to these initiatives.