totteringg (totteringg) wrote in ohnotheydidnt,
totteringg
totteringg
ohnotheydidnt

Soundcloud reportedly only has enough funds to stay operational for 80 more days


Soundcloud laid off 40% of their employees last week and closed their San Francisco and London offices, but reportedly the cuts they made only saved them enough money to make it through to Q4 (so 80 more days).

Employees say Soundcloud was aware of their financial situation for months, but they chose not to inform the team. Some of the people who were laid off were hired as recently as two weeks ago and a few of them had quit their jobs, sold their homes, and uprooted their entire lives in other countries for their new job.

The outlook isn't good and morale at the company is extremely low but Chance the Rapper may be here to save the day.

SOURCE SOURCE
Tags: music / musician, music / musician (rap and hip-hop)
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