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The post directly says they are seeing growth in their advertising business.

Does stackoverflow have ads? I would imagine that a large percentage of their technically savvy user base would be using an ad blocker.

You would be surprised how much Stack Overflow charges for job pages :)

They have job ads and "normal" ads. You get an opt-in if you have enough rep.

Their advertising business is growing. But not for job ads. Job cuts are focused on the job area. (According to the article.)