SoundCloud Publicizes Layoffs Impacting Almost 20 % of Workforce


SoundCloud has introduced that it is going to be shedding roughly 20 % of its workforce as a consequence of current adjustments within the financial and monetary panorama, in response to studies by Billboard and Selection.

“Throughout this troublesome time, we’re centered on offering the assist and assets to these transitioning whereas reinforcing our dedication to executing our mission to steer what’s subsequent in music,” the corporate wrote in a press release shared with Selection.

CEO Michael Weissman despatched an electronic mail to SoundCloud staff on Wednesday (August 3) saying the layoffs, which is able to affect staff worldwide, as Billboard studies. “As we speak’s change positions SoundCloud for the long term and places us on a path to sustained profitability,” Weissman says within the electronic mail. “We’ve got already begun to make prudent monetary selections throughout the corporate and that now extends to a discount to our staff.”

The announcement follows current partnerships with Pandora and Splice, an acquisition of the bogus intelligence firm Musiio, and a partnership with the administration and artistic providers firm Strong Basis, as Selection factors out.

In March 2021, the corporate introduced a brand new “fan-powered” royalty distribution system that allegedly helps assist smaller artists. They later claimed that the Portishead track “SOS” earned 500 % extra below this new royalty system than it had below the “pro-rata” mannequin utilized by Spotify and others. In 2017, SoundCloud laid off almost 40 % of its workforce in an effort to “management” its “impartial future.”

Weissman’s electronic mail additionally notes that SoundCloud staff in the USA and United Kingdom “shall be notified over the subsequent few days” on the standing of roles with the corporate.

Learn “Is There a Fairer Manner for Streaming Providers to Pay Artists?” on the Pitch.



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SoundCloud has introduced that it is going to be shedding roughly 20 % of its workforce as a consequence of current adjustments within the financial and monetary panorama, in response to studies by Billboard and Selection. “Throughout this troublesome time, we’re centered on offering the assist and assets to these transitioning whereas reinforcing our dedication…

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