MasterClass lays off 20% of employees as tech cuts continue

From Gizmodo: “… MasterClass CEO David Rogier said on Twitter that he had to make the ‘really hard decision’ to cut back on the company’s staff members in order to ‘adapt to the worsening macro environment and get to self sustainability faster.’ Rogier went on to say that this ‘very tough step will strengthen our position both financially and strategically.’ He said the company’s mission remains the same. … In 2021, the company announced that it had received $225 million in funding from new investors to further accelerate its growth. The company offers a subscription-based access to online classes led by high-profile celebrities like actress and producer Issa Rae, photographer Annie Leibovitz, director Spike Lee, and chef Gordon Ramsay.”