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The Discord app is seen on an iPhone in this photo illustration in Warsaw, Poland, on April 3, 2021.<\/p>\n
Jaap Arriens | NurPhoto | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
Discord will lay off 17% of the company’s workforce, which equates to 170 employees, a spokesperson confirmed Thursday.<\/p>\n
The company, which provides a popular messaging service used by gamers, previously eliminated about 40 jobs in August and joins a growing list of companies to announce cuts at the start of this year.<\/p>\n
Discord CEO Jason Citron said in an internal memo that the layoffs are necessary for Discord to become more efficient after a hiring boom in 2020, according to The Verge, which first reported<\/a> on the latest job cuts. Discord employed 870 people as of August, based on data from PitchBook.<\/p>\n<\/div>\n Discord, which ranked 18th on CNBC’s Disruptor 50 list<\/a> for 2023, was valued at about $15 billion in 2021 at the height of the tech boom. The market contracted dramatically for high-risk tech in 2022 as soaring inflation and rising interest rates crimped growth and made capital costs more expensive.<\/p>\n Unlike social web platforms such as Meta<\/a>