Final August, SoundCloud cut its workforce by 20 percent, citing „the difficult financial local weather“ for the layoffs. That is been a common refrain amongst corporations lowering employees in recent times — with corporations like Google, Meta, Amazon and extra framing layoffs as restructuring or value slicing measures. Now, SoundCloud says it will likely be slicing employees by an extra 8 p.c, telling employees that the discount is a „difficult however important determination 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 subsequent 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 observe the identical ugly sample we have seen throughout totally different tech manufacturers lately, the corporate has truly been slowly lowering 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 take a look at the biggest tech layoffs of 2023 for extra particulars.