Skip to main content

Stack Overflow, the site where millions of programmers get their questions answered, is reducing its workforce by 15% because of coronavirus

* The popular developer Q&A site Stack Overflow is reducing its workforce by 15%, according to a company spokesperson, affecting 40 employees.  * Most of the affected employees were furloughed, meaning they keep their health insurance and other benefits. Some were laid off, the spokesperson said.  * Stack Overflow's Talent business, which helps companies recruit and hire developers, has taken a hit during the coronavirus pandemic. * "We took these actions with great care and only after assessing all other options," a Stack Overflow spokesperson told Business Insider. "We did this in order to ensure that we can serve our customers and community in the long-run." * Visit Business Insider's homepage for more stories. Stack Overflow, a popular forum where millions of software developers get their questions answered, has reduced its workforce by 40 employees, or 15% of its total headcount, because of the impact of the coronavirus pandemic on its business, a spokesperson tells Business Insider.  Most of the affected employees were furloughed, meaning they can keep their health insurance and other benefits. Some, however, were laid off. The reductions were announced to the company on Tuesday, the spokesperson said.  The Stack Overflow spokesperson says its Talent business, which helps companies recruit and hire developers, has taken a hit amid the ongoing crisis, as hiring slows down across the tech industry. The spokesperson says that the company's short-term priority is growing its paid product and advertising businesses so that the furloughed employees can come back to work sooner rather than later. "We took these actions with great care and only after assessing all other options," a Stack Overflow spokesperson told Business Insider. "We did this in order to ensure that we can serve our customers and community in the long-run." Stack Overflow has said that it sees over 50 million monthly unique visitors and over 255 million monthly visits. As  Business Insider reported in October, the company boasts an annualized revenue run rate of $80 million. Previously, Stack Overflow CEO Prashanth Chandrasekar told Business Insider that in addition to its popular developer Q&A forum, the company is focusing on growing its paid, premium products like Talent, Ads, and Teams, which allows companies to build their own versions of Stack Overflow for internal use to share knowledge.  Stack Overflow has raised a total of $70 million from investors like Andreessen Horowitz, Spark Capital, and Amazon CEO Jeff Bezos' investment fund Bezos Expeditions, according to PitchBook. Read Stack Overflow's full statement below: "Given the impact of COVID-19 on Stack Overflow's Talent business, one of our three business lines, we made the difficult decision to reduce our global workforce by approximately 15%. Most of the affected employees were furloughed, except for employees and contractors in regions where furloughs were unfortunately not an option. We took these actions with great care and only after assessing all other options. We did this in order to ensure that we can serve our customers and community in the long-run. With our core SaaS business, Teams, and our Advertising business growing, our priority moving forward is accelerating that growth so that we can have our colleagues rejoin our team as soon as viable." Got a tip? Contact this reporter via email at rmchan@businessinsider.com, Signal at 646.376.6106, Telegram at @rosaliechan, or Twitter DM at @rosaliechan17. (PR pitches by email only, please.) Other types of secure messaging available upon request.  SEE ALSO: Dell says that it's 'broadly' stopped hiring, even as its subsidiary VMware focuses its recruitment on five key priorities Join the conversation about this story » NOW WATCH: How waste is dealt with on the world's largest cruise ship
https://bit.ly/2yowpvz

Popular posts from this blog

SpaceX has a 'go' from NASA to return 2 astronauts to Earth on Sunday as Hurricane Isaias threatens several Florida splashdown locations

* NASA on Saturday gave SpaceX a "go" to undock the company's first crewed space mission, called Demo-2, and land it on Sunday evening. * Hurricane Isaias complicated original plans to return two astronauts to Earth aboard SpaceX's Crew Dragon spaceship in the Atlantic Ocean. * Elon Musk's aerospace company may now try to splash down NASA astronauts Bob Behnken and Doug Hurley in the Gulf of Mexico. * Two out of seven total landing sites near Florida must have good weather conditions, and NASA has until about 5 p.m. ET on Saturday to call off the undocking. * Should the weather worsen, NASA and SpaceX can try again a day later or some other date over the next two months. * Visit Business Insider's homepage for more stories. Astronauts Bob Behnken and Doug Hurley have a "go" to return to Earth this weekend and wrap up an historic space mission for both NASA and SpaceX.  Behnken and Hurley launched to orbit aboard SpaceX's Crew Dragon vehic...
Read more

Here's an exclusive look at the pitch deck London fintech Lanistar used to raise $19 million at a $190 million valuation

* London-based fintech startup Lanistar has raised a £15 million ($19 million) funding round from Milaya Capital.  * Founded in 2019, Lanistar is building a personal financial management platform that will launch later in 2020.  * "We're expecting a huge amount of growth upon our launch and have already seen strong interest among our sign ups," Gurhan Kiziloz, founder and CEO of Lanistar, told Business Insider. * Visit Business Insider's homepage for more stories.  The coronavirus lockdown in the UK has brought the importance of managing money into sharp relief. A recent study from Money.com shows that 71% of UK households have saved cash during lockdown, and, with uncertainty about jobs and the economy looming, money management is now front of mind for many. Lanistar, a banking platform with a focus on personal finance, is one company offering tools for consumers to better manage their money. It has just raised a £15 million ($19 million) funding round from Mil...
Read more

How to send your location on Snapchat to your friends through the app's Snap Map feature

* You can send your location on Snapchat to a single friend or to several users in a group.   * To send a location on Snapchat, you'll need to visit your friendship history with a user and locate the "Send My Location" feature.  * Once you send a location on Snapchat to a friend, they can tap it and zoom in to see where you are.  * Visit Business Insider's Tech Reference library for more stories. Whether you want to share the location of your favorite restaurant or the address of your new apartment, you can easily send your location on Snapchat to your friends.  You can do this using the Snap Map and will even be prompted to select who you want to share you location with the first time you use the app feature. You can choose to share your location with your mutual friends, a list of friends with exceptions, or a small group of selected friends.  To send your location directly to a mutual Snapchat friend, you must visit your chat history through your friends li...
Read more