NEW YORK (AP) — Nextdoor is laying off 25% of its full-time staff as the neighborhood-focused social network company cuts costs with its losses widening.
The job eliminations are part of a larger cost reduction plan that aims to slash Nextdoor's current personnel expenses by up to $60 million annually, according to a third-quarter financial report from the company.
At the end of 2022, Nextdoor had 704 employees, according to an annual securities filing.
A spokesperson for the San Francisco company confirmed that almost 200 employees will be impacted by the job cuts The company this week reported quarterly losses of $38 million — greater than the $35 million it lost during the same period last year.
