Get the most important digital marketing news each day.
StumbleUpon Cuts 30% Of Its Staff In An Effort To Get In The Black
In an attempt to turn the popular social discovery site profitable, StumbleUpon has cut their staff by 30% according to TechCrunch. The overall number of employees was cut from 110 to 75 yesterday, the biggest restructure in the company’s history.
In an interview CEO Mark Bartels told TechCrunch that “The main drive here is to become more streamlined and to better execute against our goals for 2013.” He further went on to talk about a re-balancing of employees now that 40% of StumbleUpon’s traffic is derived from mobile devices. Some of the departments that saw the biggest losses were desktop-focused engineers as well as marketing & community members.
The rise of Pinterest was tough for StumbleUpon and even lead them to relaunch with a similar design last year. As of October, the adoption seemed to be positive, but unfortunately, the company was still losing money. For more information, see TechCrunch.