Since its inception, SoundCloud has undergone numerous transformations as a firm. The streaming service is now pleased of what they’ve been able to create and has a revenue plan for musicians. Hip-hop’s development has been greatly influenced by SoundCloud, and for many people, SoundCloud’s success is crucial to the entire music business.
SoundCloud is all too aware that change is accompanied by a number of difficulties. For instance, according to Pitchfork, 20 percent of the staff at SoundCloud will now need to be let go. “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,” was SoundCloud’s statement as reported by Pitchfork.
The company’s CEO, Michael Weissman, sent out a message informing the staff of these changes, which they had already been made aware of. “Today’s change positions SoundCloud for the long run and puts us on a path to sustained profitability,” reads the email. “We have already begun to make prudent financial decisions across the company and that now extends to a reduction to our team.”
Decisions like these must be made because organizations like SoundCloud are under a lot of pressure. Unfortunately, it is at the price of those who work hard.