SoundCloud has hit another bump in the road. Just yesterday, we’ve found out that the struggling company has laid off almost half of its employees and has closed the offices in London and San Francisco. As the CEO, Alex Ljung has revealed, 40% of SoundCloud’s staff has been let go, a move that he says will ensure the company’s “long-term, independent success”. From now on, the focus will be solely on the New York and Berlin offices. Ljung also added in his blog post that the service has doubled its revenue in the past 12 months and this move is a part of their plan that requires “cost cutting, continued growth of our existing advertising and subscription revenue streams, and a relentless focus on our unique competitive advantage — artists and creators.”   

We’re actually looking forward to see how things will go down in the future, so if you want to find out, make sure to stay tuned!

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