Twitter Cofounder’s “New Media Platform” Medium Is Laying Off One-Third Of Its Staff, Closing Two Offices
Maybe it’s confirmation that “new media” has it as hard as the “legacy” paper-based one; maybe it’s just the Twitter curse, or maybe he is just genuinely unhappy with what his product turned out to be. Whatever the reason, Evan Williams cofounder of Twitter, announced that he is eliminating a third of the staff, and shuttering two offices of Medium, a company he created in 2012 to become a “new model for media on the internet” and is also “changing our business model to more directly drive the mission we set out on originally.”
In a blog post, Williams said that the publishing platform will be shutting two offices in New York and Washington D.C. “to stay efficient.” Most of the laid off employees are in sales or other business functions, leaving the engineering and product teams largely intact.
The downsizing comes as the company looks to change its business model after it felt that it was “falling short” of its original goals. – READ MORE