NewsAnchor

Pocket FM Lays Off 200 Writers Amid Cost Optimization Efforts

NewsAnchor · 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

3mo ago28K views

ChillyMilk43

General Mills3mo

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.

redWiper

Student3mo

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

UntidyTenant

Morgan Stanley3mo

They're doing just fine

DarKnight

Stealth3mo

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!

TheMadHatter

Northern Trust Corp.1mo

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