YouTube has initiated a ‘voluntary exit program’ offering severance packages to its U.S.-based employees, as confirmed by the company to TechCrunch. This move was first disclosed internally by YouTube CEO Neal Mohan in a memo on Wednesday.
The restructuring includes dividing product teams into three distinct organizations, all directly reporting to Mohan. These divisions consist of the ‘Subscription Products’ team focusing on YouTube’s subscription services like YouTube Music & Premium and OTT. The ‘Viewer Products’ team will concentrate on enhancing the viewer experience across the primary YouTube app, YouTube Kids, Learning, Trust & Safety, among others. Lastly, the ‘Creator & Community Products’ organization will center on supporting creators and fostering community.
Notably, YouTube clarified that no positions are being eliminated due to these modifications. This announcement coincides with Alphabet’s Q3 earnings release, revealing a 15% year-over-year surge in YouTube’s advertising revenue to $10.26 billion.
Source: TechCrunch