PATREON CUTS 20% OF WORKFORCE

CEO Jack Conte announced the layoffs in a staff memo posted online, stating that while Patreon's core business remains strong, the company must respond to shifting market conditions. The move reflects broader cost-cutting trends across the tech industry. Patreon, which allows creators to earn recurring revenue from supporters, has faced economic pressures amid broader industry challenges. Conte emphasized the platform's fundamental strength but indicated that restructuring is necessary for long-term stability. The exact number of affected employees was not disclosed, though 20% represents a significant reduction. Patreon has grown to support millions of creators across various categories, including artists, podcasters, and video producers. The layoffs mark a notable shift for the company as it navigates current economic headwinds.