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This was announced during a meeting with the employees, led by CEO Eliah Seton. After conducting previous layoffs last year, SoundCloud will be cutting off about 8% of its workforce to seek profitability in the company.
Several other brands including social media giants Meta, and other tech giants Microsoft and Alphabet also laid off a large part of their workforce in recent times.
Following Amazon, Google, and Meta, telecom operator Vodafone cut 11,000 positions when CEO Margherita Della Valle acknowledged the company's performance was inadequate.
Dropbox CEO Blames AI for Massive Layoffs as 500 Employees Get the Boot, Technology & Science News, Times Now
Alphabet, the parent company of Google, exceeded market expectations in Q1 with a net profit of $15 billion and nearly $70 billion in revenue. Despite laying off 12,000 staff, the search engine giant is regaining its footing and performing well in the technology sector.