Pocket FM To Undertake Another Layoff Exercise, Fire 75 Employees

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SUMMARY

The startup said that the exercise is necessary “to ensure the long-term sustainability” of the organisation

The tech department would be the worst hit by the layoffs

In October, it was reported that the startup fired 50 employees. Prior to that, it laid off about 200 US-based writers in July 2024

Audio entertainment platform Pocket FM is undertaking yet another restructuring exercise, which will result in about 75 employees losing their jobs. 

The startup said that the exercise is necessary “to ensure the long-term sustainability” of the organisation. 

“As part of our commitment to building a more efficient and profitable organisation, we have made the difficult decision to part ways with close to 75 of our valued team members,” a spokesperson of Pocket FM said in a statement. 

However, Inc42 has learnt that the number of employees likely to be impacted by the restructuring exercise could be much higher than the number quoted by Pocket FM.

Moneycontrol was the first to report the development. It said that the tech department would be the worst hit by the layoffs.

This would be the second restructuring exercise at Pocket FM within a few months. In October, it was reported that the startup fired 50 employees. Prior to that, it laid off about 200 US-based writers in July 2024.

(The story will be updated soon.)





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Pocket FM To Undertake Another Layoff Exercise, Fire 75 Employees


SUMMARY

The startup said that the exercise is necessary “to ensure the long-term sustainability” of the organisation

The tech department would be the worst hit by the layoffs

In October, it was reported that the startup fired 50 employees. Prior to that, it laid off about 200 US-based writers in July 2024

Audio entertainment platform Pocket FM is undertaking yet another restructuring exercise, which will result in about 75 employees losing their jobs. 

The startup said that the exercise is necessary “to ensure the long-term sustainability” of the organisation. 

“As part of our commitment to building a more efficient and profitable organisation, we have made the difficult decision to part ways with close to 75 of our valued team members,” a spokesperson of Pocket FM said in a statement. 

However, Inc42 has learnt that the number of employees likely to be impacted by the restructuring exercise could be much higher than the number quoted by Pocket FM.

Moneycontrol was the first to report the development. It said that the tech department would be the worst hit by the layoffs.

This would be the second restructuring exercise at Pocket FM within a few months. In October, it was reported that the startup fired 50 employees. Prior to that, it laid off about 200 US-based writers in July 2024.

(The story will be updated soon.)





Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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