SoundCloud sinks and suddenly eliminates 40% of staff

SoundCloud sinks as leaks say layoffs buy little time

A tense scene unfolded yesterday as user-generated, music-streaming service SoundCloud held an all-hands meeting to explain to employees why it suddenly had to lay off 40 percent of its staff last week.

Exiting team members wanted to know why they weren’t warned, while those who survived the cuts wanted assurance that the cost reductions would …

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