SoundCloud to Lay off 8% of Staff

by info.vocallyrics@gmail.com
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sound cloud In an email received by Variety from CEO Eliah Seton, he announced that he will be laying off about 8% of its global staff. The move, which will affect around 40 people, follows a more serious round of cuts in August that saw the company cut staff by around 20%.

“Ultimately, I take responsibility for this decision and will carry it with me every day,” Seton wrote. “Most importantly, we are absolutely committed to treating everyone with the utmost respect and managing this process as generously as possible.

“This is a tough but important decision to keep our business healthy and make SoundCloud profitable this year,” he continued. “By doing so, we are securing the future of the company for the millions of artists who rely on us to live and express themselves, and for the millions of fans who come to SoundCloud to enjoy their music. Ensuring SoundCloud succeeds in our mission to influence culture, be the premier home for artists and fans, and lead the next step in music is critical.

Kind of a wild boy in the streaming business in the 2010s, the company has been in the process of repositioning itself as a more formal streaming service over the past few years. In March 2021, the company made an unusual move to introduce “fan-sponsored royalties”; where a listener’s subscription or advertising revenue is distributed among the artists whose plays they listen to rather than piling up in a collective pool.

Below is Seton’s full note to staff:

There,

Thank you to those who can join us today at All Hands – a recording will be shared shortly.

For those who can’t, I’m sharing the hard news that today and tomorrow, we’re going to cut headcount impacting 8% of the organization. Anyone whose work has been impacted by this change will receive an invitation to meet with the Human Team and their managers today. Interviews will take place today and tomorrow.

Please know that we do not take this action lightly – it is the hardest thing we can do in our job. Ultimately, I take responsibility for this decision and will carry it with me every day. Most importantly, we are absolutely committed to showing everyone the utmost respect and managing this process as generously as possible.

This is a tough but important decision to protect the health of our business and make SoundCloud profitable this year. By doing this, we are securing the future of the company for the millions of artists who rely on us to live and express themselves, and the millions of fans who come to SoundCloud to enjoy their music. Ensuring SoundCloud succeeds in our mission to influence culture, be the premier home for artists and fans, and lead the next step in music is critical.

This is hard news to digest. Given our sensitivity to mental health and well-being, extensive resources are available for any SoundClouder that needs additional support during this time. For Fitness and Wellness I recommend visiting our Opus Page or reaching out to your Contacts Team Partner as needed.

Thank you for your dedication and passion for this special place. Our artists and fans care a lot about SoundCloud for what you do every day.

gratefully

Elijah

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