Following SoundCloud’s dramatic cost-cutting measures, where it slashed 173 staff members
According to AdNews, SoundCloud will close its Sydney office from tomorrow with commercial director Shaun Alexander, and senior account manager Marta Bonzanini slated to depart.
AdNews reports SoundCloud is not bowing out of the territory entirely. It will continue to be available in Australia, but its dealings with advertisers and the industry will be made through its US office.
The move, which comes less than one year after its launch in Australia and New Zealand, follows optimistic comments made by co-founder Alex Ljung.
Ljung rubbished a report that claimed the popular but financially-strained streaming music service was counting down the days until its own extinction: “By reducing our costs and continuing our revenue growth, we’re on our path to profitability and in control of SoundCloud’s independent future,” Ljung wrote.
As reported by TIO today, Damian Bradfield, the founder of WeTransfer, has sent each of the 173 ex-staff members an offer of a $10,000 cash injection in order to stop looking for new jobs, and instead to try and build something as innovative as SoundCloud.
This article originally appeared on The Industry Observer. You can view the original article here.