Home » General World News » Pandora lays off 5% of its staff and shifts its focus away from California because it’s too expensive (P)
Pandora lays off 5% of its staff and shifts its focus away from California because it’s too expensive (P)
|02/01/2018||Posted by BusinessMediaguide.Com under General World News||
- Pandora laid off 5% of its workforce Wednesday as part of cost-cutting efforts to boost the slumping company.
- The music streaming service, which is headquartered in Oakland, California, is looking to expand its presence in Atlanta, Georgia due to a lower cost of living.
- The company expects this reorganization to save $45 million annually.
The $1.2 billion internet radio company Pandora laid off 5% of its employees on Wednesday in order to “prioritize its strategic growth initiatives and optimize overall business performance,” according to an SEC form filed by the company.