Kickstarter plans layoffs after new projects on the site drop off by 35 percent

Kickstarter announced in an internal memo today that it’s likely going to lay off employees. CEO Aziz Hasan writes that the crowdfunding company has already seen a significant drop in crowdfunding projects being listed on the site, which is how Kickstarter makes its money. Projects are down by about 35 percent, the memo states, with “no clear sign of rebound.”

Conversations are now starting with Kickstarter’s union organizers about “potential layoffs.” Sixty percent of Kickstarter’s 140 employees are unit members, and they successfully voted to unionize in February this year, making them the first major technology company to do so.

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