Pandora just said its laying off 7 percent of its workforce
Internet radio pioneer Pandora is cutting 7% of its workforce by the end of Q1 2017, the company announced Thursday.
Pandora also said it expects to “exceed previously announced Q4 2016 revenue and adjusted EBITDA guidance ranges, given strong advertising performance. It now has more than 4.3 million paying subscribers. The stock was up over 7% in after-hours trading Thursday immediately following the news.
Pandora said the job cuts, which would be executed by the end of the first quarter in 2017, are intended to reduce operational costs in 2017. As of December 31, 2015, Pandora had 2,219 employees, according to Reuters, meaning the cuts likely represent over 150 jobs (Pandora said the cuts excluded Ticketfly).
