UPDATE 1-Reddit to lay off about 5% of its workforce - WSJ

Reddit is laying off roughly about 5% of its workforce, or 90 employees, and slowing hiring as part of the social media company's restructuring efforts, the Wall Street Journal reported on Tuesday, citing an email sent to employees by Chief Executive Steve Huffman. Huffman added that the company would reduce its hiring for the rest of the year to about 100 people from an early plan to hire 300 people, the report said. Reddit did not immediately respond to a Reuters request for comment.