YouTube has launched a “voluntary exit program” that offers severance packages to employees in the United States, the company confirmed to TechCrunch on Wednesday. Sources were the first to share this development.
On Wednesday, YouTube CEO Neal Mohan informed staff about this initiative through an internal memo.
The memo further revealed that the Google-owned platform is restructuring its product teams into three distinct groups, each of which will now report directly to Mohan. The “Subscription Products” division will oversee YouTube’s subscription offerings, including YouTube Music & Premium as well as OTT services.
The “Viewer Products” group will handle the user experience across the main YouTube app, YouTube Kids, Learning, Trust & Safety, and additional areas. Meanwhile, the “Creator & Community Products” team will be dedicated to assisting creators and fostering community engagement.
According to the company, these organizational changes will not result in any job cuts.
This announcement coincides with Alphabet’s release of its third-quarter financial results on Wednesday, which showed YouTube’s ad revenue reached $10.26 billion for the quarter, reflecting a 15% increase compared to the previous year.
