Chinese internet giant Alibaba is making significant job cuts, reportedly around 7 per cent of its workforce, as it plans separate IPOs for its various business groups. Alibaba Layoffs: Chinese Tech Giant To Make Significant Job Cuts Amid IPO Plans.
This was announced during a meeting with the employees, led by CEO Eliah Seton. After conducting previous layoffs last year, SoundCloud will be cutting off about 8% of its workforce to seek profitability in the company.
SoundCloud is joining the list of companies reducing its workforce. How many are affected? SoundCloud confirmed that the company is laying off up to 20% of its global workforce due to "challenging economic climate and financial market headwinds," as per Variety.