Streaming music service Pandora announces 7% layoffs to ensure continued implementation of core projects

on January 13, Pandora, a streaming music service, announced on Thursday that it would cut 7 per cent of its workforce in the first quarter of 2017.

original title: Pandora, a streaming music service, announced 7 per cent layoffs

January 13, while Pandora, a streaming music service, announced on Thursday that it would cut 7 per cent of its workforce in the first quarter of 2017.

Pandora CEO Tim Westgren (Tim Westergren) announced the layoffs in an email to shareholders: "in 2017, in order to ensure the continued implementation of core projects, we conducted a comprehensive assessment of business operations and made the necessary difficult decisions to focus on the most important opportunities in the future. As a result, we cut the total U.S. workforce (excluding Ticketfly) by 7% to say goodbye to the colleagues who helped Pandora get to where it is today. "

Pandora is "giving priority to the most important value opportunities and downgrading other projects", says Mr Westgren. However, he did not specify the scope of the layoffs. A spokesman for Pandora declined to give further information. Ticketfly, Pandora's online ticketing service, is not affected by the layoffs.

Pandora also announced that revenue in the fourth quarter of 2016 will exceed expectations, and advertising has become the main driver of revenue growth. In addition, Pandora said that the $5 Plus ordering service, which was fully launched in October, attracted 357000 new users in the fourth quarter.

at the end of the quarter, Pandora plans to launch a $10 on-demand music service. To prepare for the launch of the new service, Pandora acquired Rdio, a streaming music service, more than a year ago.

for some time in the past, there have been rumors that Pandora may be acquired. Pandora is currently a public company. But the company's management said it planned to keep the company independent. The news announced on Thursday is expected to reignite discussions about a possible acquisition of Pandora.

Pandora plans to release its fourth quarter 2016 results on February 9th.

Edit: nancy