Nextdoor Cuts 12% of Workforce to Achieve Profitability Amidst Restructuring

Nextdoor Holdings, a neighborhood social networking company, has laid off 12% of its workforce (67 jobs) to reduce annual operating expenses by $30 million and achieve profitability. The company reported a $2.2 million adjusted loss in Q2 and a net loss of $15.4 million. Revenue increased 3% to $65.1 million, and the company expects to break even on an adjusted EBITDA basis in Q4.