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Business News Digital
Further job cuts confirmed at SoundCloud
By Chris Cooke | Published on Wednesday 24 May 2023
SoundCloud CEO Eliah Seton has confirmed that the company is implementing another round of job cuts in order to “ensure the health of our business and get SoundCloud to profitability this year”. Approximately 8% of the workforce will be impacted.
It’s the second round of redundancies at SoundCloud in less than a year. Though the previous cutbacks in August last year were more severe, affected about 20% of the company’s employees. At the time a spokesperson explained that those cutbacks were the result of a “significant company transformation and the challenging economic and financial environment”.
In a memo to staff yesterday confirming the latest downsizing, Seton explained: “I am sharing the difficult news that, today and tomorrow, we are conducting headcount reductions, impacting 8% of the organisation. Everyone whose job is impacted by this change will receive an invitation today to meet with the People Team and their manager. Meetings will take place today and tomorrow”.
“Please know we do not take this action lightly”, he added, “it is simply the hardest thing we can do in our business. Ultimately, I take accountability for this decision and will carry that with me every day. Most importantly, we are absolutely determined to treat everyone with the utmost respect and manage this process in as generous a manner as possible”.
“This is a challenging but essential decision to ensure the health of our business and get SoundCloud to profitability this year”, he then explained.
“In doing so, we are securing the company’s future for the millions of artists who rely on us for their living and their self-expression, and the millions of fans who come to SoundCloud for the joy of music. It is critical to ensure that SoundCloud thrives in our mission to influence culture, be the preeminent home for artists and fans, and lead what’s next in music”.
