391 posts and columns on layoffs
Tumblr is disbanding Storyboard, its four-person editorial team, and all four employees will be “moving on,” CEO David Karp said in a post. Late last year, Tumblr told Forbes that it was hoping to generate $100 million in revenue in 2013; last month, it also told Bloomberg that it would be profitable this year. Update: Tumblr PR tells BetaBeat that three employees will be let go.
News Byte$300 million on severance charges. In August, the company told investors that those charges would cost $275 million. Google says it will also spend another $90 million on “other charges related to facility and market exits,” and says more cuts and charges may come, “some of which may be significant.”