Substack CEO says he’s ‘very sorry’ about laying off 13 people

Image: Substack

Chris Best, the CEO of Substack, announced on Wednesday that 13 workers would be let go. Around 14 percent of Substack's workforce is according to the report. The reason for the layoffs was cited by Best in his letter.

Some employees may have been surprised by the move. He said that the company was going to grow the team and not do layoffs. The company needs to change tactics as it may be facing an extended period where the economy goes from bad to worse. The company has made a number of changes to make sure it is in a good financial position.

The people we’re saying goodbye to today are all talented, great people who care deeply about helping readers and writers. It hurts to let them go. We’ll miss them.

— Chris Best (@cjgbest) June 29, 2022

Some of the employees laid off were involved in human resources. According to the report, Substack stopped trying to get funding from investors, but that its revenue is still growing.

Substack faced a minor controversy in April when its vice president of communications posted a hiring link while mentioning a specific type of employee the company didn't want. If you are an employee who is considering quitting because of Musk pushing for less regulated speech, please do not come to work here. The company believes in a lot of free speech.

Substack isn't the only company laying off a lot of workers. Several large companies have cut jobs.