SoundCloud’s CEO sent out a memo on Wednesday | Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images
Streaming company SoundCloud is cutting about 20 percent of its global workforce. Billboard reported on August 3rd that SoundCloud CEO Michael Weissman told the staff in a company memo that the change is mostly due to the current economic climate. Employees affected would be notified over the next several days.
“Today’s change positions SoundCloud for the long run and puts us on a path to sustained profitability,” Weissman wrote in the memo. “We have already begun to make prudent financial decisions across the company and that now extends to a reduction to our team.” In a statement to Billboard, a SoundCloud representative confirmed the news, and said: “During this difficult time, we are focused on providing the support and resources to…
