Joining the list of tech corporations firing their employees, Substack has declared that it would be dismissing 13 of its staff members. The announcement was made by the chief executive of the American subscription newsletters platform via a Twitter post on June 30. These 13 workers make up 14% of the total employees of the company. The CEO, Chris Best said that the company is taking this hard decision seeing the situation of the economy.
The CEO in his tweet wrote that it is the saddest day for the firm. He also said that workers who are being laid off by the firm are very capable, smart, and devoted staff. They were always committed to the aim of the Substack. It was an honor for the company to have such employees and the company will miss them after they leave, the chief further added.
The chief also said that he accepts that Substack’s workers might be astonished by this move of the company as a little while ago he had announced that the firm is focusing on expanding its workforce and is not having any plans to dismiss any of its employees in the then near future. He further mentioned that the firm is still appointing people for particular major positions and has amassed capital.http://
Today’s the saddest day we’ve had at Substack. We’re letting go of 13 people. Here’s the note I shared with the team. pic.twitter.com/0ycGtrIBh6
— Chris Best (@cjgbest) June 29, 2022
Although, he mentioned that at present the firm needed to make some alterations in its strategies to prevent it from facing any huge unrepairable loss in the coming future as it speculates that the recession period for the company might last for a little longer duration.
As per a report a few of the workers who have been dismissed either worked in the human resource department or as writer support. It further claimed that the US-based firm had paused its attempts to ensure financing from its capitalists, however, the profits of the company are still advancing.
Previously in April, the firm encountered a small dispute related to its recruitment attempts when the company’s vice president of communication shared the recruitment link on her Twitter post emphasizing a particular kind of worker that the firm is not looking for. She wrote in her tweet that if an employee of Twitter is willing to leave the company because of all the ongoing matters related to Elon Musk and his bid then the person should come to Substack with the hope of getting hired.
In the past Substack has mentioned that the firm gives a high emphasis on free speech.
