Chat app Discord has let go of nearly 40 employees (4% of its workforce) as part of company’s restructuring efforts, according to multiple reports.
The company confirmed the development to Business Insider in a statement and added that it is focused on long-term growth.
“Discord can confirm that approximately 4% of our team have been let go as part of the reorganization of some business units, and we are ensuring that those impacted are being supported. We are focused on the long-term growth of the business and delivering on our mission,” a company spokesperson told the publication.
Last month, Discord rolled out a Family Center as an opt-in tool to better inform parents and guardians about their children’s activity on the app. The company also introduced a feature to let users directly stream Xbox gameplay to servers and DMs. In March, Discord updated its Clyde bot with OpenAI’s ChatGPT tech so users can ask it for suggestion during a group chat.
Last week, investment firm Fidelity improved the value of some of its holdings including Discord and Reddit. This was a positive sign as compared to June when Fidelity cut its Discord holdings’ valuation to $1.7 million — down 47% since the original investment of $3.3 million made in 2021.