Silicon Valley-based edtech executive Richard Yang is replacing co-founder Philip Cutler as interim chief executive. Yang will stay on as executive chairman once the company finds a permanent CEO. (The Globe and Mail) 

Talking point: Paper had about 180 office staff before the layoffs. It’s the fourth round of cuts since early 2023, before which the company employed about 500 workers. The company’s business ballooned during the pandemic, with its user base growing from about 50,000 to more than two million in two years, CEO Philip Cutler told The Logic in 2022. The company raised US$380 million across two financings in 2021 and 2022 from backers including SoftBank and IVP, valuing it at US$1.5 billion. But it has struggled to maintain momentum since the COVID-19 remote-education boom. In an internal email to staff leaked on Reddit, Paper’s board said Yang’s “leadership style is what Paper needs now” and that he has experience “repositioning companies for sustained, profitable growth.”