Soundcloud will lay off eight percent of its staff in hopes of becoming profitable

Last August, SoundCloud cut its workforce by 20 percent, citing "the challenging economic climate" for the layoffs. That's been a common refrain among companies reducing staff in recent years — with companies like Google, Meta, Amazon and more framing layoffs as restructuring or cost cutting measures. Now, SoundCloud says it will be cutting staff by an additional 8 percent, telling staff that the reduction is a "challenging but essential decision to ensure the health of our business and get SoundCloud to profitability this year."