{"id":5623,"date":"2017-07-10T14:09:43","date_gmt":"2017-07-10T12:09:43","guid":{"rendered":"https:\/\/xceed.me\/blog\/?p=5623"},"modified":"2017-07-10T18:30:55","modified_gmt":"2017-07-10T16:30:55","slug":"soundcloud-lays-off-40-of-employees-and-closes-two-offices","status":"publish","type":"post","link":"https:\/\/xceed.me\/blog\/en\/soundcloud-lays-off-40-of-employees-and-closes-two-offices\/","title":{"rendered":"Soundcloud lays off 40% of employees and closes two offices"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Soundcloud<\/strong>, the online audio distribution platform based in Berlin,\u00a0announced in a public blog post on their official website that staff cuts will be made this year as an attempt to increase profitability and ensure stability for the\u00a0company. As stated by Tech Investor News, the company has <strong>lost over $150M<\/strong> from 2010 through 2015.<\/p>\n<blockquote>\n<p style=\"text-align: justify;\">\u2018We need to ensure our path to long-term, independent success,\u2019<strong> says CEO Alex Ljung.<\/strong> \u2018And in order to do this, it requires cost cutting, continued growth of our existing advertising and subscription revenue streams, and a relentless focus on our unique competitive advantage \u2014 artists and creators.\u2019<\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\">To avoid bankruptcy, as part\u00a0of the reduction, Soundcloud company will <strong>close two of its offices<\/strong>, San Francisco and London, leaving only New York and Berlin operational for the moment. The streaming service will let go 173 of its 420 employees, <strong>cutting so over 40% of the staff<\/strong>. The CEO also stated that the company was suffering from a <strong>liquidity crisis<\/strong> even though its revenue doubled last year. However, in order to \u2018be independent, cuts needed to be made.\u2019<\/p>\n<p style=\"text-align: justify;\">\u2018By reducing our cost and continuing our revenue growth, we\u2019re on our path to profitability and in control of <strong>Soundcloud\u2019s independent future<\/strong>,\u2019 states Alex Ljung.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"Soundcloud, the online audio distribution platform based in Berlin,\u00a0announced in a public blog post on their official website&hellip;\n","protected":false},"author":1,"featured_media":5591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[201,123],"tags":[],"class_list":{"0":"post-5623","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-culture","8":"category-music","9":"cs-entry","10":"cs-video-wrap"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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