Soundcloud announces plans to dismiss 8% of staff

As the tech industry continues to ebb and flow financially, Soundcloud, a major player in the music streaming platforms, has announced the decision to carry out a series of layoffs.  The decision was recently announced by the company’s CEO Eliah Seton in a letter to the organization.

The decision by Soundcloud and its leadership to cut 8% of staff follows up the organization’s dismissal of roughly 20% of its staff just last August.  The motivation and purpose of the layoffs are to ensure the company’s profitability and follow along with many sectors of the tech industry that appear to be making cuts.  Earlier this year, rival streaming platform Spotify, also made cuts to its staff, dismissing 6% of its workers back in January.  As for the recent announcement from Soundcloud, interested parties can read the full email from CEO Eliah Seton below:

All,

Thank you to those of you who were able to join us on our All Hands today – a recording will be shared shortly.

For those who could not, I am sharing the difficult news that today and tomorrow, we are conducting headcount reductions, impacting 8% of the organization. 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 – 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. 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.

This is difficult news to absorb. Given our sensitivity to mental health and well-being, there are extensive resources for any SoundClouder needing additional support during this time. I encourage you to visit our Opus Page for Wellness & Wellbeing or reach out to your People Team Partner as necessary.

Thank you for your continued dedication to and passion for this special place. Our artists and fans care so deeply about SoundCloud because of what you do every day.

With gratitude,

Eliah

Image Credit: viewimage / Shutterstock.com