SoundCloud reducing "up to 20%" of global workforce

Billboard reports that Weissman's email was sent out to employees yesterday (3 August), and in the announcement, the SoundCloud CEO revealed that the layoffs will "impact up to 20%" of the company's global team. He also wrote that the decision is "incredibly hard", but a necessary one "given the challenging economic climate and financial market headwinds."

"Today’s change positions SoundCloud for the long run and puts us on a path to sustained profitability," Weissman continued in the email. "We have already begun to make prudent financial decisions across the company and that now extends to a reduction to our team."

The piece also reports that a spokesperson for SoundCloud confirmed the "approximate 20% reduction of its global workforce due to a significant company transformation and the challenging economic and financial environment." The spokesperson added, "During this difficult time, we are focused on providing the support and resources to those transitioning while reinforcing our commitment to executing our mission to lead what’s next in music."

Billboard also reports that the email from SoundCloud's CEO confirmed that employees impacted by the reductions in the US and UK "will be notified over the next few days."