Wattpad lays off 15% of its staff, blames changing economic environment

Challenging economic conditions are affecting companies of all sizes, resulting in job cuts. Storytelling platform Wattpad announced Tuesday that it has laid off 42 of its 267 people workforce — that’s nearly 15% of the staff. It will provide at least 12 weeks of severance and six months of continued benefits to the departing employees. Plus, they will be allowed to keep office-allocated devices such as laptops.
In a blog post, the company blamed the economic environment for the cost-cutting measures and said the layoff impacts all its divisions.
“As you all know, the global econom

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