Soundcloud will cut about 20% of its workforce, blaming weak economic environment – Meczyki.Net

As the word of layoffs around the world, soundcloud Unfortunately, the public will join in. The audio distribution and music sharing platform plans to cut its global workforce by about 20%. SoundCloud CEO Michael Weisman emailed Staff, informs them that they will be notified if there is an impact on US and UK employees over the next few days.

The company told Meczyki.Net that the decision was due to “a significant company transformation and challenging economic and financial environment.”

“During this difficult time, we are focused on providing support and resources to transitioners while reinforcing our commitment to executing on our mission to do what’s next in music,” SoundCloud said.

one in linkedin post Yesterday, Weisman wrote, “To those affected by this decision, I want to personally thank you for your passion and contribution to SoundCloud and the artist communities we serve. You all have contributed to the music industry and the lives of artists.” SoundCloud has always been resilient, and together, we will continue to take on the challenge of what’s next in music.”

Just two weeks ago, he shared a Post The company announced two executive employees, Jessica Rivera and Maurice Slade.

The last time SoundCloud cut its workforce 2017, when it decreased by 40%. Since then, SoundCloud has been in its annual . With, moving towards profitable growth revenue run rate About $300 million.

In July, SoundCloud forged its first major label partnership with Warner Music Group, thanks to its fan-powered royalty initiative, which was promising news for the company. A few months back in May, the company acquired AI music curation company Musio.