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This seems strange, given that another article from TechCrunch today states that the layoffs bought them very minimal runway. https://techcrunch.com/2017/07/12
by rfrank 9y ago
This seems strange, given that another article from TechCrunch today states that the layoffs bought them very minimal runway.
https://techcrunch.com/2017/07/12/soundshroud/ https://techcrunch.com/2017/07/12/soundshroud/
> Instead, sources at SoundCloud tell TechCrunch that founders Alex Ljung and Eric Wahlforss confessed the layoffs only saved the company enough money to have runway “until Q4” — which begins in just 50 days.
> A core question from staff during the all-hands was why there wasn’t transparency into the finances or a strict hiring freeze. The message from management was that a hiring freeze would show weakness and lead to people asking questions. That wasn’t satisfying when the company ended up shedding almost half its staff.
- ChuckMcM 9y agoThe bridge loan in March might have helped (see https://www.crunchbase.com/organization/soundcloud#/entity https://www.crunchbase.com/organization/soundcloud#/entity)
- valuearb 9y agoIf they actually thought a hiring freeze would actually show weakness, then they deserve what they got. Not being transparent with employees basically shows these two aren't suited to motivate or lead anyone.
- rfrank 9y agoMy take on the matter too, particularly the hiring freeze thing. Yeesh.