SoundCloud To Lay Off 20% Of Their Global Workforce 

Audio

SoundCloud isn’t the only streaming company struggling.

Following a statement from the firm, SoundCloud CEO Michael Weissman issued a statement of his own on LinkedIn. For context, SoundCloud disclosed in early 2022 that the company had 359 full-time employees as of the end of 2020.

Today, I relayed the news that we’ve chosen to reduce our worldwide staff by up to 20%, which will have a significant impact on our firm.” Making changes that have an impact on others is extremely difficult. However, given the current economic climate and financial market challenges, it is a need for SoundCloud’s long-term growth.

SoundCloud

“I want to personally thank anyone impacted by this decision for their dedication and efforts to SoundCloud and the creative communities we serve. As a collective, you’ve had a profound influence on music and the lives of musicians everywhere.

Former Vimeo COO Weissman stated, “SoundCloud has always been resilient, and together we will continue to embrace the challenge of pioneering what’s next in music”. This essay was written before any impacted workers had posted on LinkedIn about the layoffs, and it’s not known when the affected 72 or so individuals will be informed by the company.

However, this is only the latest in a long line of layoffs at high-profile internet organizations, as well as those in and around the music industry. There was a significant number of layoffs at destination-event promoter Pollen, for example, in May before the company parted ways with a key executive last month (and signaled substantial operating changes).

Despite the $150 million Series C that Pollen announced in April, unhappy consumers are still claiming that they haven’t been their reimbursements. According to social media posts, a number of employees are still awaiting payment.

SoundCloud

Spotify, of course, began the year with numerous layoffs and announced intentions in June to reduce employment by 25% in order to save money in the long run. Despite this small cost-cutting step, Spotify has continued to spend large sums of money on acquisitions, including the purchase of the music trivia game Heardle in July.

A “reorganization” at TikTok, which might include the launch of a streaming service in the United States, has just begun with layoffs. Former ByteDance employee David Ortiz claims that he was the app’s “very first hiring outside of China, in my product and engineering org, assigned to develop the whole foreign product management team from start” in the short-form video sharing app.

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