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SoundCloud Lays Off Nearly Half Its Staff, Closes Two Offices (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: SoundCloud is cutting about 40 percent of its staff in a cost-cutting move the digital music service says will give it a better financial footing to compete against larger rivals Spotify and Apple. SoundCloud, which in January said it was at risk of running out of money, informed staff on Thursday that 173 jobs would be eliminated. It had 420 employees. The company's operations will be consolidated at its headquarters in Berlin and another office in New York. Offices in San Francisco and London will be shut.
"We need to ensure our path to long-term, independent success," Alex Ljung, the company's co-founder and chief executive officer, said in a blog post published on SoundCloud's website. He said the company has doubled its revenue over the past 12 months -- without providing specifics -- and that the cuts put it on a path to profitability.
"We need to ensure our path to long-term, independent success," Alex Ljung, the company's co-founder and chief executive officer, said in a blog post published on SoundCloud's website. He said the company has doubled its revenue over the past 12 months -- without providing specifics -- and that the cuts put it on a path to profitability.
A cloud based music service doesn't need an office in five of the most expensive cities in the world?
OMG! Who knew???
But seriously, this is the problem with so many companies today. And 420 employees? Doing what?
That would be too bad.
One thing I love about soundcloud is the waveform 'position bar' with tagged comments. When a band hosts XFDs there, you can easily, visually skim the album and check the samples for each song in the mix. You can quickly can determine if you want to buy the album or not that way. I find it a lot more convenient than some mp3 or youtube version.
On the other hand, searching for stuff on the site I find a horrid experience.