SoundCloud recently did some major cleaning house, closing offices in San Francisco and London, and slashing 40% of its workers.
The move, according to SoundCloud, was to ensure “long-term” success, but some say the fate of the music streaming service isn’t so optimistic. In a detailed report, TechCrunch dives into the reality of what’s really going on with the company.
Sources at SoundCloud revealed to TechCrunch that founders Alex Ljung and Eric Wahlforrs straight up confessed the mass amount of layoffs only buys them time “until Q4” — so, “long-term” suddenly becomes “50 days.” SoundCloud PR also confirmed the same timeline, but also mentioned the company is looking into investors.
When TechCrunch asked about the morale of the team, an anonymous employee of SoundCloud said, “It’s pretty shitty. Pretty somber. I know people who didn’t get the axe are actually quitting. The people saved from this are jumping ship. The morale is really low.”
Another from a different office described the situation as “a shitshow.”
Yikes. Another scary factor: the death of SoundCloud could mean the world’s biggest collection of independent music will completely vanish off the internet forever.
Source: TechCrunch
This article was first published on Your EDM.
Source: The Fate Of SoundCloud Doesn’t Sound Promising, According to Its Employees
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