Developer group web site Stack Overflow has laid off 28% of its workers, the Prosus-owned firm introduced Monday.
In a blog post, Stack Overflow’s CEO, Prashanth Chandrasekar indicated that the corporate is specializing in its path to profitability. Whereas the publish didn’t elaborate on the explanation behind the job cuts, it talked about prospects’ budgets shifting elsewhere “as a result of macroeconomic pressures.”
“This yr we took many steps to spend much less. Adjustments have been pursued by the lens of minimizing the impression on the lives of Stackers. Sadly, these modifications weren’t sufficient and we’ve got made the extraordinarily troublesome resolution to scale back the corporate’s headcount by roughly 28%,” Chandrasekar mentioned.
Whereas Stack Overflow is primarily a Q&An internet site for customers it additionally has enterprise merchandise like “Stack Overflow for Groups,” which helps organizations keep a company-wide information base.
The corporate didn’t specify the variety of laid-off staff. Nevertheless, because it had pushed its headcount to over 500 people last year, greater than 100 individuals are more likely to be impacted.
With generative AI gaining recognition for serving to coders with completely different issues, Stack Overflow has seen its traffic drop as compared to last year.
In August, the corporate said that due to generative AI, it expects “some rises and falls in conventional visitors and engagement over the approaching months.”
Earlier this yr, Stack Overflow asked AI companies to pay for training data. In January, it barred customers from posting answers generated by AI. The corporate can be making an attempt to bolster its personal AI capabilities. In July, it launched OverflowAI with options like generative AI-powered search.
Massive Tech can be shifting quick to make generative AI-aided merchandise obtainable for coders in a fast method. Final month, GitHub expanded entry to its Copilot chat to particular person customers. In Might, throughout its developer convention, Google introduced a bunch of AI-centric coding instruments together with an assistive bot referred to as Codey. The corporate has additionally educated its conversational AI instrument Bard to assist customers with code technology and debugging.