Medium to Cut 50 Jobs as It Changes Its Business Model

Share on Facebook Tweet Share Reddit Comment
Medium to Cut 50 Jobs as It Changes Its Business Model
Highlights
  • The job cuts were mostly in sales and support
  • Williams did not describe the "new model" the company would create
  • Company to shut down offices in New York and Washington

US-based online publishing platform Medium said it would slash its workforce by a third, or eliminate 50 jobs, close two offices as the company changes its ad-driven business model.

The job cuts were mostly in sales and support, while the vast majority of the product development and engineering teams would remain, the company said on Wednesday.

The company's ad-driven publishing model was "becoming an extension of a broken system", Chief Executive Evan Williams wrote in a post.

Williams did not describe the "new model" the company would create, but said it would reward writers and creators, based on the value they were creating, not just their ability to attract "a few seconds of attention".

Medium allows users, including companies and media outlets, to post blogs that readers can annotate.

The company said it was shutting down offices in New York and Washington, DC, though some employees would continue to work remotely from these locations.

© Thomson Reuters 2016

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and subscribe to our YouTube channel.

Further reading: Medium, Job Cuts, Publishing, Internet
14444 Toll-Free Helpline for Digital Payments Launched
53.4 Million PS4 Consoles Sold: Sony at CES 2017
 
 

Advertisement

 

Advertisement

© Copyright Red Pixels Ventures Limited 2019. All rights reserved.