Final August, SoundCloud cut its workforce by 20 percent, citing “the difficult financial local weather” for the layoffs. That is been a common refrain amongst firms decreasing employees in recent times — with firms like Google, Meta, Amazon and extra framing layoffs as restructuring or price reducing measures. Now, SoundCloud says it will likely be reducing employees by an extra 8 p.c, telling employees that the discount is a “difficult however important choice to make sure the well being of our enterprise and get SoundCloud to profitability this 12 months.”
That purpose was baked into the corporate’s final spherical of layoffs too, with the 2022 cuts being positioned as placing SoundCloud on “a path to sustained profitability.” This new “headcount discount” appears to be the following step in that plan, with sources telling Billboard that the corporate hopes to be worthwhile by This autumn. SoundCloud management has additionally reportedly stated that it is courting new traders.
Though SoundCloud’s layoffs comply with the identical grotesque sample we have seen throughout completely different tech manufacturers just lately, the corporate has really been slowly decreasing employees for a while. Along with final 12 months’s cuts, the corporate slashed its workforce by 40 p.c again in 2017.
Take a look at Engadget’s have a look at the biggest tech layoffs of 2023 for extra particulars.
Trending Merchandise
