Home
Internet
Internet News
Medium to Cut 50 Jobs as It Changes Its Business Model

Medium to Cut 50 Jobs as It Changes Its Business Model

By Reuters | Updated: 5 January 2017 14:29 IST

Click Here to Add Gadgets360 As A Trusted Source

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

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.