Final August, SoundCloud reduce its workforce by 20 %, citing “the difficult financial local weather” for the layoffs. That’s been a standard chorus amongst corporations lowering workers in recent times — with corporations like Google, Meta, Amazon and extra framing layoffs as restructuring or price reducing measures. Now, SoundCloud says will probably be reducing workers by an extra 8 %, telling workers that the discount is a “difficult however important resolution to make sure the well being of our enterprise and get SoundCloud to profitability this yr.”
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 discount” appears to be the following step in that plan, with sources telling Billboard that the corporate hopes to be worthwhile by This fall. SoundCloud management has additionally reportedly stated that it’s courting new buyers.
Though SoundCloud’s layoffs observe the identical grotesque sample we’ve seen throughout totally different tech manufacturers just lately, the corporate has really been slowly lowering workers for a while. Along with final yr’s cuts, the corporate slashed its workforce by 40 % again in 2017.
Try Engadget’s take a look at the most important tech layoffs of 2023 for extra particulars.