The internet radio company laid off the employees in order to “prioritize its strategic growth initiatives and optimize overall business performance,” the company said in a federal filing. It’s not clear how many people that 5% will encompass, notes Business Insider. Pandora hasn’t disclosed an employee headcount since 2016 when it said it had 2,488 employees. Along with the layoffs, Pandora also announced that it will shift investments in its California headquarters to Atlanta, where the cost of living is cheaper. The layoffs and restructuring is just the latest move to allow the company to better compete with archrival Spotify.
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