YouTube announces ‘voluntary exit program’ for US staff

YouTube has initiated a voluntary exit program for its employees based in the United States, providing severance packages for those who choose to participate. This decision was confirmed to TechCrunch by the company on Wednesday, following an initial report from sources familiar with the matter. In an internal memo shared with staff, YouTube CEO Neal Mohan outlined the program, which coincides with a significant reorganization of the company’s product teams. These teams will now be divided into three distinct groups that will report directly to Mohan. The first group, named the 'Subscription Products' team, will concentrate on enhancing YouTube’s subscription offerings, including YouTube Music and Premium services. The second team, designated as 'Viewer Products,' will prioritize the overall viewer experience across various platforms such as the main YouTube app, YouTube Kids, and educational content, as well as ensuring trust and safety for users. Meanwhile, the 'Creator & Community Products' organization will be dedicated to supporting content creators and fostering community engagement. Importantly, YouTube has stated that this restructuring will not lead to any job eliminations. This announcement arrives on the heels of Alphabet's third-quarter earnings report, which highlighted YouTube’s advertising revenue soaring to $10.26 billion, marking a remarkable 15% increase compared to the previous year.