SoundCloud will cut its workforce by around 20% due to the weak economic environment.

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When rumors of layoffs ricochet around the world, soundcloud unfortunately, they will go to the masses. The audio distribution and music sharing platform plans to cut its global workforce by around 20%. SoundCloud CEO Michael Weissman sent by email employees, informing them that US and UK employees will be notified if they are affected within the next few days.

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The company told TechCrunch that the decision was due to “a significant transformation of the company and a challenging economic and financial environment.”

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SoundCloud added, “During this challenging time, we are focused on providing support and resources to those who are transitioning, strengthening our commitment to our mission to lead what’s next in music.”

AT Post on LinkedIn Weissman wrote yesterday: “For those affected by this decision, I want to personally thank you for your passion and contributions to SoundCloud and the artist communities we serve. You all have had an incredible impact on the music industry and the lives of artists. SoundCloud has always been resilient, and together we will continue to meet the challenges of leading the way for what’s next in music.”

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Just two weeks before, he shared mail from a company announcing the hiring of two executives, Jessica Rivera and Maurice Slade.

The last time SoundCloud cut its workforce was 2017 when it decreased by 40%. Since then, SoundCloud has been moving towards profitable growth, yearly revenue growth rate about 300 million dollars.

In July, SoundCloud signed its first major label partnership. Warner Music Group, which was promising news for the company. A couple of months ago, in May, the company acquired an AI music curation company. Music.


Credit: techcrunch.com /

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