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

Or just read more coverage about: SoundCloud

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s