SoundCloud Cuts 40% of Staff, Will Shutter London and San Francisco Offices

SoundCloud Cuts 40% of Staff, Will Shutter London and San Francisco Offices

The German service will reduce its presence to only two offices, in Berlin and NY, according to a blog post from one of its founders, Alex Ljung.

The move seems to be a new effort from the music company to cut its debt and become less reliant on investors. He revealed that with the cutbacks and doubled revenue over the past 12 months, things are looking up for SoundCloud.

CEO and cofounder of SoundCloud Alex Ljung, who will be on stage new week in Berlin for the Tech Open Air conference, told his employees of the job cuts through a video call Thursday afternoon, said one of the employees with SoundCloud, adding that the announcement had stunned him.

Past year the company warned that it may run out of cash.

The business, founded in Berlin in 2008 by Swedish sound designer Alexander Ljung and compatriot artist Eric Wahlfross, which allows musicians to upload, record and publicise their tunes, has fallen on hard times.




"We need to ensure our path to long-term, independent success". "This requires cost cutting, continued growth of our existing advertising and subscription revenue streams, and a relentless focus on our unique competitive advantage - artists and creators".

Which isn't to say that SoundCloud doesn't have its USPs.

The company will reportedly be closing its San Francisco and London offices and consolidating its operations to two locations, its Berlin headquarters and another office in NY.

However, the strategy appears to have gone awry for SoundCloud.

SoundCloud had raised $70 million from Twitter in June of 2016, after raising another $35 million of debt financing in January of a year ago. But, Ljung wrote, "we need to ensure our path to long-term, independent success", which apparently includes reducing personnel.

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