Stack Overflow to cut back its team

Stack Overflow, a knowledge-sharing platform used by developers and software engineers, said it would reduce the size of its team by 28 percent in a bid to cut costs.

The cuts came less than a year after the company “more than doubled” its headcount to 540, suggesting it will lose around 150 staff.

Chief executive Prashanth Chandrasekar wrote in a blog post that the coding help resource had been "focused on [its] path to profitability" and had this year taken “many steps to spend less.”

“Changes have been pursued through the lens of minimising impact to the lives of ‘Stackers’,” he wrote.

“Unfortunately, those changes were not enough and we have made the extremely difficult decision to reduce the company’s headcount by approximately 28 percent.”

Chandrasekar said that this fiscal year and next, the company needed cash to invest into the core product.

“As such, we are significantly reducing the size of our go-to-market organisation while we do so,” he wrote.

“Supporting teams and other teams across the organisation are impacted as well.”