SoundCloud has introduced one other spherical of layoffs, with plans to let go of 8% of the corporate’s workforce, Variety studies.
The information arrives lower than a yr after SoundCloud’s sizable reduction in workers by roughly 20%. The newest spherical of layoffs was revealed in an e-mail despatched by SoundCloud’s CEO, Eliah Seton, who mentioned it was “important” to the corporate’s path to profitability. The precise roles and departments affected weren’t talked about.
“It is a difficult however important resolution to make sure the well being of our enterprise and get SoundCloud to profitability this yr,” Seton wrote. “In doing so, we’re securing the corporate’s future for the thousands and thousands of artists who depend on us for his or her residing and their self-expression, and the thousands and thousands of followers who come to SoundCloud for the enjoyment of music. It’s crucial to make sure that SoundCloud thrives in our mission to affect tradition, be the preeminent house for artists and followers and lead what’s subsequent in music.”
Layoffs within the music and know-how spheres have been rampant amid unsure financial situations. Again in January, Spotify dismissed 6% of their staff “in an effort to drive extra effectivity, management prices, and pace up decision-making,” CEO Daniel Ek mentioned on the time.
Learn Seton’s full letter beneath, per Selection.
All,
Thanks to these of you who had been in a position to be a part of us on our All Fingers at the moment – a recording can be shared shortly.
For many who couldn’t, I’m sharing the troublesome information that at the moment and tomorrow, we’re conducting headcount reductions, impacting 8% of the group. Everybody whose job is impacted by this alteration will obtain an invite at the moment to fulfill with the Folks Group and their supervisor. Conferences will happen at the moment and tomorrow.
Please know we don’t take this motion flippantly – it’s merely the toughest factor we are able to do in our enterprise. In the end, I take accountability for this resolution and can carry that with me day-after-day. Most significantly, we’re completely decided to deal with everybody with the utmost respect and handle this course of in as beneficiant a way as potential.
It is a difficult however important resolution to make sure the well being of our enterprise and get SoundCloud to profitability this yr. In doing so, we’re securing the corporate’s future for the thousands and thousands of artists who depend on us for his or her residing and their self-expression, and the thousands and thousands of followers who come to SoundCloud for the enjoyment of music. It’s crucial to make sure that SoundCloud thrives in our mission to affect tradition, be the preeminent house for artists and followers and lead what’s subsequent in music.
That is troublesome information to soak up. Given our sensitivity to psychological well being and well-being, there are in depth sources for any SoundClouder needing extra help throughout this time. I encourage you to go to our Opus Web page for Wellness & Wellbeing or attain out to your Folks Group Companion as obligatory.
Thanks in your continued dedication to and keenness for this particular place. Our artists and followers care so deeply about SoundCloud due to what you do day-after-day.
With gratitude,
Eliah
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