Reddit Reportedly Plans To Lay Off 5% of Employees

During a rather bleak year for technology companies and social media platforms, Reddit will reportedly be the latest company to downsize. In an email from company chief Steve Huffman that was seen by the Wall Street Journal, Reddit announced its plans to restructure, which includes laying off nearly 5% of its employees -- approximately 90 staffers of its current 2,000. The company also plans to pull back on its current hiring processes: while Reddit initially intended to bring on 300 new team me...