Copyright Business Insider
YouTube is offering employee buyouts as part of a major reorganization, CEO Neal Mohan said on Wednesday in a memo to staffers that was obtained by Business Insider. "Looking to the future, the next frontier for YouTube is AI, which has the potential to transform every part of the platform," Mohan wrote. "We need to set ourselves up to make the most of this opportunity." Mohan said YouTube, which is owned by Google, was creating three separate product organizations that would report directly to him: viewer products, creator and community products, and subscriptions products. No layoffs were planned as part of the reorganization, which is set to take effect on November 5. "But we also understand some of you may be ready for a new challenge, so we've decided now is the right time to offer a Voluntary Exit Program," Mohan said, adding the YouTube employees in the United States would be receiving more information about the buyout option. Several companies have recently made cuts to their workforce — in part due to AI. Amazon announced this week that it was slashing more than 14,000 jobs in order to position itself to innovate faster in the age of AI. Alphabet, Google's parent company, reported record earnings on Wednesday, achieving its first-ever $100 billion quarter. Read Mohan's full memo to YouTube employees below:
