Pandora just announced it will be laying of 7 percent of its work force in the U.S. Is this a result of greed or is the company in trouble? Well, It doesn’t look like the company is in trouble, in fact they are expecting to exceed the numbers they were expecting to do in the first quarter alone.
Pandora’s CEO Tim Westergren announced the layoffs in a letter to the shareholders, writing:
“In an effort to ensure continued execution across core initiatives in 2017, we took a comprehensive look at our operations and made the hard decisions necessary to focus the company on the most significant opportunities in front of us. As a result, we reduced our U.S. employee base (excluding Ticketfly) by 7% and said goodbye to colleagues who have worked tirelessly to make Pandora the force it is today.”