Layoffs are on the way at Pandora.
The online radio service will let go of 7 percent of its U.S. workforce, the company announced on Thursday. Along with layoffs, to meet its financial goals Pandora will leverage “its analytics platform and ad insertion logic to drive additional revenue and realize leverage in content costs.” We have reached out to Pandora for an explanation on just what that means because your guess is as good as ours.
“While making workforce reductions is always a difficult decision, the commitment to cost discipline will allow us to invest more heavily in product development and monetization and build on the foundations of our strategic investments,” Pandora CEO Tim Westergren said in a statement. Read more…