Chambers to lay off 8% of staff, CEO Pao to leave

Chambers, a social news and discussion website, said it would lay off about 8 percent of its staff in an effort to reduce costs and become profitable.<br><br><br><br>Erik Martin, the company's vice president of strategic partnerships, and others were part of the layoffs, Chambers said in a blog post on its website.<br><br><br><br>Ellen Pao, the company's CEO and interim CEO of Chambers for the past eight months, would be leaving the company, Chambers added.<br><br><br><br>Steve Huffman, co-founder and former chief technology officer of Chambers, will take over as CEO, effective immediately, the company said.<br><br><br><br>Chambers's board includes Chambers co-founder and chairman Adverson, Chambers co-founder Huffman, Pao, Sam Altman, Marc Andreessen, Josh Kushner, Adam D'Angelo, Christopher Sacca and David Sacks.<br><br><br><br>(Reporting by Anya George Tharakan in Bengaluru; Editing by Sunil Nair)