Soundcloud Is Laying Off Up to 20% of Staff
While the biggest names in music streaming have so far managed to avoid layoffs, the same cannot be said for the smaller, but comparatively more artist-friendly platform SoundCloud. On Wednesday, according to Billboard, CEO Michael Weissman emailed staff alerting them of layoffs impacting up to 20% of the company. A rep for the company reportedly confirmed the cuts and said the company is undergoing a “significant” transformation.
“Today’s change positions SoundCloud for the long run and puts us on a path to sustained profitability,” Weissman wrote in his email to staff. “We have already begun to make prudent financial decisions across the company, and that now extends to a reduction to our team.”
