Mozilla announced in a blog on Tuesday that due to financial difficulties associated with the coronavirus pandemic, Mozilla, known for its popular Firefox Web browser, will lay off about 250 employees and reorganize its business.
Mitchell Baker, CEO of Mozilla, said: “The economic conditions brought about by the global pandemic have severely affected our income.”
AIRBNB confidentially applies for IPO
According to TechCrunch, as part of the reorganization, Mozilla will close its business in Taipei, Taiwan. Laid-off employees will receive severance pay, including at least the basic salary for the remainder of the calendar year and any performance bonuses received.
Twitter links hackers to phone-based phishing attacks
Mozilla will abandon its free-to-use model and adopt revenue-generating products, including platforms designed to “mitigate harm” and protect Internet privacy. The company derives most of its revenue from a transaction with Google, which uses the company’s search engine as the default option for its browser.
Click here to start FOX business
Baker added: “The old model of recognizing that everything is free will have consequences, which means we must explore a range of different business opportunities and alternative value exchanges.”
As of 2018, Mozilla has approximately 1,000 employees worldwide, which is the latest year of employment data. The company laid off 70 employees in January.
Click here to read more about FOX business