YouTube announces ‘voluntary exit program’ for US staff

YouTube is conducting a “voluntary exit program” with severance for US-based employees, the company confirmed to TechCrunch on Wednesday. The news was first reported formula.

YouTube CEO Neil Mohan informed employees about the program in an internal memo on Wednesday.

The memo also announced that the Google-owned company is restructuring its product teams into three separate organizations that all report directly to Mohan. The “Subscription Products” team will focus on YouTube Music and YouTube’s subscription products across premium and OTT.

The “Audience Product” team will focus on the audience experience across core YouTube apps, YouTube Kids, learning, trust and safety, and more. Ultimately, the “Creator and Community Product” organization will focus on supporting creators and building community

The company said no roles are being eliminated as part of these changes.

The move comes as Alphabet is released Third quarter earnings On Wednesday, it was reported that YouTube’s ad revenue hit $10.26 billion during the period, a 15% year-over-year increase.