Balanced News: News aggregator SmartNews lays off 40% of US and China staff, with further reductions planned in Japan

SmartNews, a Tokyo-headquartered news aggregation website and app valued at $2 billion as of 2021, today announced a 40% reduction of its U.S. and China workforce, or around 120 people, according to sources familiar with the company’s plans. The news was announced on Thursday in an All-Hands meeting attended this evening by SmartNews staff. SmartNews employees in Japan, meanwhile, will soon undergo a “voluntary departure program,” but they weren’t yet offered specifics about what that will entail.