Soundcloud lays off 40 percent of workforce, closes 2 offices

Soundcloud, the music streaming service popular for hosting both up-and-coming acts as well as established artists and podcasts, has laid off 173 employees and will be closing multiple offices. The cuts represent about 40 percent of the Berlin-based company's workers. Its San Francisco and London branches will be closed as well, with its operations consolidating in Germany and New York City. Just last March, co-founder Wahlforss said London was a "crucial place" for the company to build its platform. -- More....