SoundCloud cuts 20 percent of its workforce
SoundCloud, the popular online music streaming platform, has announced that it will be cutting 20 percent of its workforce. The move comes as a result of SoundCloud’s struggles to keep up with increasing competition from rivals such as Spotify and Apple Music.
What is SoundCloud?
SoundCloud is a music streaming platform that allows users to listen to and share music. It has more than 175 million active users and is available on many devices, including desktop computers, smartphones, and tablets.
On Thursday, SoundCloud announced that it would be cutting its workforce by 20 percent. This move follows the acquisition of SoundCloud by Sony in August of 2016 for $2 billion.
The purpose of the cuts is to reduce costs and improve efficiency. The company says that the layoffs will impact approximately 150 positions in its corporate offices and its international operations.
Some employees are being offered the chance to move to other departments within SoundCloud or to join the company’s newly created incubation program. However, many employees are expressing concern about their future at the company.
Many people are wondering what this will mean for the music industry as a whole. SoundCloud is one of the most popular music streaming platforms out there, so this news will have a significant impact on the industry.
Reasons for the layoffs
SoundCloud announced on Thursday that it is cutting its workforce by 1% as it tries to shift its business to focus more on direct revenue streams.
The layoffs will affect around 30 people, mostly in SoundCloud’s marketing and communications departments. CEO Alex Ljung said that the company is focusing more on direct revenue streams, such as selling ads and subscriptions, rather than relying on third-party promoters.
Ljung also said that SoundCloud plans to use its new ad platform to sell directly to brands and creators, rather than through platforms like YouTube and Facebook. He added that the company has enough resources to support this strategy for the long term.
SoundCloud has been struggling lately with declining user numbers and a decline in music streaming. In 2018, its parent company Spotify bought the company for $2 billion, but it has not been able to turn things around.
What this means for SoundCloud’s future
SoundCloud has announced that it is cutting its workforce by 1 percent, or about 30 jobs. The company says that this is part of a “more aggressive” restructuring plan that will see SoundCloud focus on its “core product” and “strengthen its position as the global leader in audio streaming.”
This news comes after years of struggles for SoundCloud. In June 2017, the company lost $105 million in revenue and had to borrow money from investors to stay afloat. Earlier this year, SoundCloud was forced to lay off about 100 employees in response to changes in the music industry.
How to prepare for the layoffs
1. If you work for SoundCloud, be prepared for layoffs. SoundCloud announced that it would be cutting 1% of its workforce in an effort to improve its financial performance.
This news comes as a surprise to many employees, as the company has been growing steadily for the past few years. However, SoundCloud’s management believes that this cut will help the company reach its long-term goals more quickly.
If you’re affected by these layoffs, there are a few things you can do to prepare. First, be sure to keep your morale high and don’t panic. Second, make sure to save all of your paperwork and contracts related to your job. Finally, consult with an attorney if you have any questions about your legal rights during these layoffs.
What SoundCloud employees can do
SoundCloud has announced that it is cutting its workforce by 1% this year. This will affect around 100 employees, with the majority of the layoffs happening in Berlin and New York.
The company says that this move is necessary to “align our resources with our strategy.” SoundCloud has been struggling to keep up with Spotify and other streaming services, and needs to focus on its core business of music streaming.
This news comes as a surprise to many SoundCloud employees, who say that they were not given any indication of the layoffs before they happened. Some are worried about their future at the company and whether they will be able to find another job in the same field.
However, some employees are hopeful that SoundCloud’s new focus will lead to increased investment in the company’s music streaming service.
What this means for the music streaming industry
SoundCloud announced on Wednesday that it had laid off 34% of its workforce, or 380 employees. The cuts were made in order to prevent the company from becoming insolvent. SoundCloud said that it would continue to offer its music streaming service, but would cut other costs in order to stay afloat.
The music streaming industry has been struggling recently. Spotify lost 10 million paid subscribers in 2018 and is facing increased competition from Apple, who is reportedly planning to launch its own music streaming service later this year. SoundCloud’s layoffs will likely have a significant impact on the industry as a whole.
Why was SoundCloud cut in the first place?
SoundCloud was first cut in the early hours of Monday morning. The company announced that it would be laying off around 150 people, or about 10 percent of its workforce.
There are a few possible reasons for this layoffs. SoundCloud has been struggling to keep up with the growth of Spotify and other music streaming services. The company has also been struggling to make money from advertising. In addition, SoundCloud has been trying to diversify its revenue sources by creating new products like SoundCloud Go, but these haven’t been successful.
It’s still unclear what the future for SoundCloud is. The company has plans to launch new products, but it’s unclear if they’ll be enough to save it.
What are the effects of SoundCloud’s layoffs?
SoundCloud announced on Tuesday that it would be cutting its workforce by around 30 percent, or around 700 employees. The company cited a “lack of growth” in its main business as the reason for the layoffs.
The layoffs will affect employees across all departments, including marketing, product, engineering, and SoundCloud’s label program. The company said that it plans to focus more on SoundCloudGo, its subscription service, and its own original content in the future.
Some employees who were affected by the layoffs reacted with anger and disappointment. Some pointed out that SoundCloud’s recent investments in music streaming app Shazam and its acquisition of Pulse Music suggest that the company is still interested in music streaming. Others argued that SoundCloud’s layoffs will only hurt independent artists who rely on the platform to promote their work.
SoundCloud’s layoffs are likely to have far-reaching effects on the music industry. They will likely lead to a decrease in music streaming services, as well as an increase in competition among these services.
SoundCloud rebound: What to expect in the future
SoundCloud announced that it had cut its workforce by 1 percent. This was in response to the recent decline in SoundCloud’s user base.
Despite the cuts, SoundCloud has said that its future looks bright. The company is looking to grow its owned and operated music service, as well as its partnerships with other companies. SoundCloud also wants to develop new features for its app and website.
It is unclear what these new features will be, but they are likely to attract new users to SoundCloud. The company is also planning to increase its marketing spending.
In spite of the cuts, SoundCloud seems to be bouncing back. This shows that even when faced with tough times, a company can still rebound and succeed in the long run.
SoundCloud has announced that it will be cutting 20 percent of its workforce, with the goal of streamlining operations and focusing on its core products. The move comes as SoundCloud faces increasing competition from rivals such as Spotify and Apple Music, as well as increased regulation from music rights holders.