SoundCloud lays off 40% of its workforce, says it’s not going anywhere

Closing in on nearly a decade in business but failing to turn a profit, indie music platform SoundCloud has let 173 of its staffers go this week. That amounts to nearly 40 percent of its workforce; it’s also closing its offices in San Francisco and London. The idea is to cut down on overheads and keep the company afloat as it tries to figure out how to sustain its service. That doesn’t bode well for the upstart streaming service, which previously was being considered for acquisition by Twitter and Spotify – but those deals are ancient history now. Although co-founder…

This story continues at The Next Web

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