YouTube, $GOOGL, is conducting a “voluntary exit program” with severance for U.S.-based employees

YouTube confirmed on Wednesday that it has launched a “voluntary exit program” for employees in the United States, offering severance packages to those who choose to leave. The program was disclosed to staff in an internal memo from CEO Neal Mohan. This news was first reported by Sources.

In the memo, Mohan also announced a restructuring of YouTube’s product organization. The company is creating three new product divisions, each reporting directly to him. The new Subscription Products group will oversee all subscription services, including YouTube Music, YouTube Premium, and over-the-top offerings. The Viewer Products division will focus on the user experience across the main YouTube app, YouTube Kids, Learning, Trust & Safety, and related areas. Meanwhile, the Creator & Community Products division will center on tools and features that support creators and build community engagement.

YouTube emphasized that no roles are being eliminated as a result of this organizational change.

The restructuring announcement coincided with Alphabet’s third-quarter earnings release, which showed YouTube bringing in $10.26 billion in advertising revenue, a 15% increase from the same quarter last year.