PocketFM Layoffs: Audio Entertainment Platform Lays Off Around 200 Writers To Optimise Costs and Allocate Resources for Ongoing Projects
New Delhi, July 27: PocketFM, the audio entertainment platform, has reportedly laid off around 200 writers. The layoffs are said to be part of a restructuring effort to optimise its resources and focusing on key areas of growth for its current projects.
The decision has impacted many writers who contributed to the platform’s audio series content. Even though PocketFM has reportedly let some employees go, the company is said to be growing well and making profits. They are also speeding up their efforts to hire new staff in different areas. Avaya Layoffs: Tech Firm Announces New Round of Layoffs, Likely To Affect Around 180 Employees Amid Restructuring Plans.
PocketFM, which was established in 2018 by Rohan Nayak, Prateek Dixit and Nishanth Srinivas has secured USD103 million in Series D funding, as per reports. The funding round valued the company at around USD 750 million in March. As per a report of Money Control, PocketFM stated that it has laid off some writers for its US-based shows. The company did not reveal the exact number of writers affected, but it is assumed to be approximately 200 contractual writers that have been affected by the layoffs.
PocketFM is a platform that provides a wide range of audio content in various genres. The platform offers content from different genres, which include thriller, romance, science fiction, drama or fantasy. The content is available in both Hindi and English as well as in several Indian languages including Bengali, Marathi, Malayalam, Tamil, Telugu and Kannada. Tech Layoffs Affect Indian Skilled Workers on H-1B and L-1 Visas in US, Leads to Uncertain Future Amid Suspended Greed Card Applications; Check Alternate Solution.
They also offer a vast library of content. As per reports, PocketFM contains over 1,00,000 hours of audio for listeners to enjoy. It includes a collection of more than 4,00,000 episodes and over 2,000 audio series, which reflects there is something for everyone to explore and enjoy on the platform.
(The above story first appeared on Today News 24 on Jul 27, 2024 02:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
