SoundCloud has cut 40% of staff
The company SoundCloud has announced that it has reduced about 40% of the state to preserve the independence and become profitable amid rising competition from Apple Music services and Spotify.
Executive Director Alec SoundCloud Ljung (Alex Ljung) announced in the company blog that SoundCloud has dismissed 173 the old to reduce costs and guide them on creative artists.
The CEO added that over the past year, SoundCloud has increased the income almost by half, but to remain independent, the company had to go to such drastic measures.
The company is not talking about the user base of the service, which was 175 million unique users in 2014.