Kickstarter

Kickstarter, the crowdfunding platform, significantly reduced its workforce in May 2020, cutting nearly 40 percent of its staff. This reduction included 25 layoffs, representing about 18 percent of employees, plus an additional 30 employees who accepted voluntary buyout packages. The company cited the economic downturn caused by the COVID-19 pandemic, noting a 35 percent drop in new projects on its platform with no immediate recovery in sight. As a public benefit corporation in the tech and crowdfunding industry, Kickstarter implemented these measures to navigate the financial challenges of the time.

Kickstarter plans layoffs after new projects on the site drop off by 35 percent, indicating a restructuring effort due to decreased project submissions.