After cutting over 40% of its staff, SoundCloud issued a statement that sounded optimistic about its long-term future. In reality, it appears that the firm only has enough funding to make it into Q4.
Microsoft is poised to lay off thousands of sales staff this week, amid efforts to reorganize its global sales force and focus on selling cloud services instead of standalone software.
As many as 1,000 people at Oath, the resulting entity of the AOL and Yahoo merger, will face job losses, representing just under 20% of the combined workforce. The stocks weren't impacted by the news.
With the PC sales slowing in anticipation of the arrival of Windows 8 at the end of the month, McAfee have announced that a number of their 7000 employees will be laid off.
Avalanche Studios, the developer behind Just Cause, have announced they are to lay off 20 employees. The Swedish based studio, who is currently working on three separate projects including Just Cause 2, had previously announced...