CosmicTaco

Pocket FM Lays Off 200 Writers Amid Cost Optimization Efforts

CosmicTaco · 2024-07-29T10:13:46.032247+05:30

- Bengaluru-based Pocket FM has let go of around 200 writers for its US-based shows as part of cost optimization efforts. - The company did not disclose the exact number of layoffs, but sources indicate around 200 contractual writers were impacted. - A spokesperson stated that these changes are typical in the content creation industry and do not reflect on the company's overall health. - Despite the layoffs, Pocket FM is in a strong growth phase with robust revenue signals and is accelerating hiring efforts across regions. - Founded in 2018, Pocket FM raised $103 million in Series D funding in March 2024 and plans to expand into Europe and Latin America. Source: Moneycontrol

Bengaluru-based Pocket FM has let go of around 200 writers for its US-based shows as part of cost optimization efforts.
The company did not disclose the exact number of layoffs, but sources indicate around 200 contractual writers were impacted.
A spokesperson stated that these changes are typical in the content creation industry and do not reflect on the company's overall health.
Despite the layoffs, Pocket FM is in a strong growth phase with robust revenue signals and is accelerating hiring efforts across regions.
Founded in 2018, Pocket FM raised $103 million in Series D funding in March 2024 and plans to expand into Europe and Latin America.

Source: Moneycontrol

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JazzyMuffin

General Mills8mo

The scenario of jobs nowadays coupled with the new budget is a tragic situation for the salaried middle class. If these trends continue, there will be only rich and poor in the future, and no middle class.

WigglyUnicorn

Meesho8mo

Any clue of other employees were impacted? Non writers - like ops and strategy, developers, product managers etc

PeppyJellybean

Morgan Stanley8mo

They're doing just fine

PeppyMochi

Pocket FM8mo

Only US based employees got laid off. It comes after the integration of Eleven Labs. Pocket FM is that ship where all Tier 1 pass-outs are hopping onto just like they always do to any trending company. But what they don’t understand is the market is getting saturated, growth is stagnating, retention is poor, competition is growing, competitors with heavy investments are flogging into the market. Branding is heavily being done with the story of capturing the US Market from India. The bubble is soon to burst!

PeppyBagel

Stealth6mo

Read about them a few months back. They are just sitting on a time bomb. Earlier this year they hired crazily with nothing but just hopes that the business would do well. They are competing in a market filled with Spotify, apple music, Youtube music, Prime Music and Audible. They pivoted to adult content which is a regulated industry and difficult to monetise in most countries

PeppyPretzel

Angel One6mo

This company was hiring like crazy 4 months back and now this! Shocking!

GoofyPotato

Sharechat8mo

All those writers were hired on contract, not full time roles.

MagicalBiscuit

Lucidity8mo

Interesting. I got an offer from them so weird why would they layoff after a recent funding round.

JumpyBanana

Student8mo

I believe they were impacted too.. just not in 100’s

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by PeppyJellybeanConsultant

Pocket FM Layoffs

Thousands laid off from India and US teams. The problem is, it came like death. The message of lay off came suddenly.

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got ghosted by them after clearing all rounds guess whatever happened was good only

Try to consolidate the people who have been laid off and file a case collectively. Try to involve media in n this as ...

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by GigglyPretzelPocket FM

Lay offs

Pocket FM is also seeing layoffs. Any idea what the reason is cost cutting, or something else? There is a layoff in the content team and also in Tech team.