Pandora Hitting Hard Times: Laying Off Staff, Shifting Away from California
Pandora’s layoffs will save the company tens of millions of dollars annually. But that’s probably just the start.
Pandora CEO Roger Lynch has now made it official. The company is laying off 5% of his workforce. That’s part of a broader pare-down as the company tries to retread itself and survive long-term.
According to the company, the layoffs will “prioritize strategic growth initiatives and optimize overall business performance.” The board of the company approved the reduction plan on January 11th. They announced the plan to the affected employees last Wednesday.