YouTube is implementing a “voluntary severance program” with severance benefits for its U.S.-based employees, the company confirmed to TechCrunch on Wednesday. The news was first reported by sources.
YouTube CEO Neil Mohan informed employees about the program in an internal memo on Wednesday.
The memo also announced that the Google-owned company would reorganize its product teams into three separate organizations, all of which would report directly to Mohan. The Subscription Products team will focus on YouTube’s subscription products across YouTube Music & Premium and OTT.
The Audience Products team will focus on the viewer experience across the main YouTube app, YouTube Kids, learning, trust and safety, and more. Finally, the “Creator & Community Products” organization will focus on supporting creators and building community.
The company says no roles will be removed as part of these changes.
The move comes after Alphabet released its third-quarter financial results on Wednesday, reporting that YouTube ad revenue reached $10.26 billion in the period, a 15% increase from a year ago.
