Discord, the popular chat app, has recently laid off nearly 40 employees, amounting to 4% of its workforce, as part of a company-wide restructuring initiative. The affected employees, mainly from marketing, design, and entertainment partnership teams, shared their experiences on social media platforms like Twitter and LinkedIn.

Confirming the news to Business Insider, a spokesperson from Discord stated that the layoffs were a result of reorganizing certain business units and emphasized the company’s commitment to long-term growth. Discord is taking measures to provide support to those impacted by the job cuts.

In recent updates, Discord introduced a Family Center tool to help parents and guardians monitor their children’s activities on the app. Additionally, they enabled a feature allowing users to directly stream Xbox gameplay to servers and direct messages. In March, Discord integrated OpenAI’s ChatGPT technology into its Clyde bot, offering users helpful suggestions during group chats.

Moreover, investment firm Fidelity increased the value of some of its holdings, including Discord and Reddit, providing positive signs for the companies. This development came after Fidelity had reduced the valuation of its Discord holdings to $1.7 million in June, a decline of 47% compared to the initial investment of $3.3 million made in 2021.

Also Read:

For more exciting tech updates and the latest news, follow our website News. tecktribe. We regularly share valuable insights, product reviews, and industry trends to keep you in the loop. Don’t miss out on the latest updates; follow us today!