Slacker Radio has axed 25% of its workforce in a dramatic downsizing.
According to Music Business Worldwide, the San Diego-based streaming radio company confirmed the move Thursday, citing its need to “focus on efficiency and accelerate the path towards profitability”.
The news comes three months after loss-making Pandora announced that it was cutting 7% of its staff headcount, with around 100 jobs on the chopping block.
Slacker Radio was launched in 2007 by Dennis Mudd, the ex-CEO of MusicMatch – which was purchased by Yahoo Music and became known as Yahoo! Music Radio.
The company’s current CEO, Duncan Orrell-Jones, said in a statement: “Slacker Radio is laying off approximately 25% of the team as part of our ongoing effort to focus on efficiency and accelerate the path towards profitability.
“Our strategy has always been to innovate in the radio and music space, and we’ve been working hard to develop new experiences that we believe will fulfill the promise of radio reimagined. The Slacker Radio app will not be affected by these changes, nor will several new product releases that are scheduled for later this year.”
In 2013, Slacker was reported to have somewhere between 500,000 and a million paying subscribers in the US, amongst 35m registered users.
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