Streaming Music Platform SoundCloud to Cut 40 Percent of Staff
173 jobs to be cut and two offices to be closed
In a blog post from SoundCloud co-founder and CEO Alex Ljung last week, SoundCloud announced it would cut 173 jobs and consolidate its team into its Berlin and New York offices, closing its London and San Francisco offices. The job cuts represent approximately 41 percent of the company’s workforce of 420 employees, reported Business Insider. Ljung said the company needs to cut costs and grow advertising and subscription revenue to reach profitability and to remain in control of the streaming music platform’s future.
Subscription Insider now embargoes NEWS and FEATURE articles 14 days after they are published.
All registered site users can enjoy access to our full archive of news and feature content by logging in.
Remember — Subscription Insider membership includes access to all embargoed content.
Subscription Insider has upgraded to a new technology platform and our login process has changed:
FOR FREE EMBARGOED ACCESS:
- Newsletter Subscribers (Free): Please log in using the email you used to signup for our Newsletter. The first time you log in, you will need to reset your password.
- Registered Site Users: Please use the email and password you used when you registered for free site access for Subscription Insider.