Patreon is laying off 20% of its workforce, or 93 people, CEO Jack Conte told employees on Thursday. In a memo to staff that was shared online by the company, Conte said Patreon’s core business is strong but that the platform has to respond to market changes and adjust its cost structure to remain stable, which is why it needs to make the “painful” but necessary cuts.
Conte wrote that “AI has fundamentally transformed the tech industry,” and that the pace of change has “never been more intense.” However, Conte went on to note that Patreon isn’t making the cuts because it wants to replace employees with AI.
