Voice AI company SoundHound has reportedly laid off half its workforce

SoundHound, a company that once hoped to dominate the AI ​​voice market, has reportedly cut about half its workforce.according to the company laid off about 200 employees last week as part of a company-wide restructuring. gizmodo If the reports are accurate, the mass layoffs would be the second layoffs SoundHound has made in less than a year. In November, the company reportedly announced. Before the first cut, SoundHound employed about 450 people.

Three ex-employees interviewed gizmodo I described a “pathetic” retirement package contingent on the company raising more money. The company did not immediately respond to his Engadget request for comment, they claim the package does not include healthcare and only two weeks of severance pay. SoundCloud went public in early 2022 through a special purpose acquisition company. SoundHound customers include Pandora, Mercedes-Benz and Snap.

The email I received gizmodo, SoundHound CEO and co-founder Keyvan Mohajer, said the layoffs were due to recent macroeconomic conditions. “Tech companies like SoundHound have been darlings of the investor community as they set the course for going public in early 2021. was seen as a driving force in the “However, as a result of changing economic conditions – high interest rates, rising inflation and fear of a recession – companies with our profile became less desirable.” added that it was “concerned,” and that SoundHound “had no heart to let go of its employees.”

Mass layoffs have been frequent at many tech companies in recent months. At the beginning of November, Facebook’s parent company Meta moved more than 11,000 of its employees out of work. Most recently, Amazon expanded the scope of company-wide layoffs, affecting more than 18,000 employees.

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