As part of a restructuring exercise, Pocket FM, an audio series platform, is laying off 75 employees, highlighted a Moneycontrol report.
Pocket FM had laid off around 50 employees in October 2024, and this is the second round of job cuts at the company. In July 2024, Pocket FM had to also do away with 200 contractual writers.
This news was confirmed by the audio series platform’s spokesperson, as reported by Moneycontrol. The spokesperson spoke about the necessity of this move to ensure long term sustainability and the company’s success.
But, it was also learnt that the number of people to be laid off could be higher as the process was still ongoing, and the tech vertical had been impacted severely in this job-cut round.
Founded in 2018 by Rohan Nayak, Prateek Dixit, and Nishanth Srinivas, Pocket FM offers more than 75,000 audio series on its platform spanning genres such as romance, drama, thriller, fantasy and science fiction. The series are offered in English and several Indian languages such as Hindi, Tamil, Telugu, Malayalam, Bengali, Kannada and Marathi, further highlighted the report.
On Jan 15, Bengaluru-based social media platform ShareChat announced that it would lay off around five percent of its workforce following its annual performance review cycle, according to a MC report.
The company, which currently employs between 530 and 550 people, the planned reduction is part of a periodic assessment that identifies the bottom three to four percent of performers.
However, ShareChat clarified that these exits are not related to a new round of cost-cutting.
Following these departures in January, the company’s headcount will stand at about 500 — significantly lower than its peak of nearly 2,800 employees just a few years ago.
Read More: ShareChat to trim workforce by 5% in performance-based downsizing