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Final August, SoundCloud lower its workforce by 20 p.c, citing “the difficult financial local weather” for the layoffs. That is been a standard chorus amongst firms decreasing employees lately — with firms like Google, Meta, Amazon and extra framing layoffs as restructuring or price chopping measures. Now, SoundCloud says it is going to be chopping employees by a further 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 aim 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 buyers.
Though SoundCloud’s layoffs comply with the identical ugly sample we have seen throughout completely different tech manufacturers lately, the corporate has truly 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 largest tech layoffs of 2023 for extra particulars.
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