Soundcloud will lay off eight % of its employees in hopes of turning into worthwhile

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Final August, SoundCloud reduce its workforce by 20 %, citing “the difficult financial local weather” for the layoffs. That is been a typical chorus amongst firms lowering employees in recent times — with firms like Google, Meta, Amazon and extra framing layoffs as restructuring or price slicing measures. Now, SoundCloud says will probably be slicing employees by a further eight %, telling employees 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 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 following step in that plan, with sources telling Billboard that the corporate hopes to be worthwhile by This autumn. SoundCloud management has additionally reportedly mentioned that it is courting new buyers.

Though SoundCloud’s layoffs observe the identical grotesque sample we have seen throughout completely different tech manufacturers not too long ago, the corporate has really been slowly lowering employees for a while. Along with final yr’s cuts, the corporate slashed its workforce by 40 % again in 2017.

Try Engadget’s have a look at the largest tech layoffs of 2023 for extra particulars.

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