Last August, SoundCloud minimize its workforce by 20 percent, citing “the challenging economic climate” for the layoffs. That’s been a typical chorus amongst firms decreasing staff in current years — with firms like Google, Meta, Amazon and extra framing layoffs as restructuring or price slicing measures. Now, SoundCloud says it will be slicing staff by a further 8 percent, telling staff that the discount is a “challenging but essential decision to ensure the health of our business and get SoundCloud to profitability this year.”
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 reduction” appears to be the following step in that plan, with sources telling Billboard that the corporate hopes to be profitable by This autumn. SoundCloud management has additionally reportedly stated that it is courting new traders.
Although SoundCloud’s layoffs observe the identical grotesque sample we have seen throughout completely different tech manufacturers lately, the corporate has truly been slowly decreasing staff for a while. In addition to final yr’s cuts, the corporate slashed its workforce by 40 percent again in 2017.
Check out Engadget’s take a look at the most important tech layoffs of 2023 for extra particulars.
…. to be continued
Read the Original Article
Copyright for syndicated content material belongs to the linked Source : Engadget – https://www.engadget.com/soundcloud-will-lay-off-eight-percent-of-its-staff-in-hopes-of-becoming-profitable-204510023.html?src=rss