Pandora is laying off about 5 percent of its workforce as it shifts to more automated ads [TechCrunch Blog]
PANDORA MEDIA (P)
Last pandora media earnings: 7/31 04:01 pm
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Source: TechCrunch Blog
Hi! In the same month that streaming music company Spotify filed to go public , its US rival Pandora is feeling the pinch of how challenging the digital music business continues to be. The company today announced that it is laying off about five percent of its employee base as it switches to new services automating some of its advertising and marketing, investing in more non-music content, and with “other cost-saving measures”, with a goal of saving $45 million annually. According to Pandora’s 8-K filing , employees were notified today of the plan and the company expects the staff reduction of about five percent to be complete by the end of Q1 2018. “As I shared last quarter, we know where and how to invest in order to grow,” Pandora CEO Roger Lynch said in a press release. “We have an aggressive plan in place that includes strategic investments in our priorities: ad-tech, product, content, partnerships and marketing. I am confident these changes wil
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