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WeTransfer To Offer $10k To Laid-off Soundcloud Employees To Start Something New

If you’re not living under a rock, you must be aware of the whole Soundcloud disaster that went down past week or so. If you’re not familiar with what we are talking about, we’ve got you covered. With numerous reports that came in pointing towards Soundcloud laying off 40% of its employees and closing 2 of its offices in London & San Francisco, got everyone worried. To add to the situation, things got really intense when another reports came in stating that Soundcloud only has enough funds to run for another 50 days. But the next day, Chance the Rapper announced on his twitter saying that “Soundcloud is here to stay”, followed by Soundcloud itself posting that, the streaming platform isn't going anywhere. Thereby giving some relief to the community.

Now, you may ask, what happened to the 40% laid-off staff? Well, the 173 employees that lost their jobs have just got some assurance from a file sharing website WeTransfer. The company is saying that it is willing to pay $10,000 to the laid-off employees and they don’t need to find any new jobs. Basically what Damian Bradfield, the president of the company is saying, is that instead of finding new jobs the employees should use this modest amount to innovate and make something new because without innovation the music streaming industry won’t move forward. The file sharing company’s president is sending out an email to the laid-off employees which goes something like this:

“We’d like to prevent you from just simply ‘getting a job.’ Why? What’s wrong with a job? Nothing. It’s just that you might stray from your original mission to change the way we consume or create music – an endeavor that made SoundCloud unique in the world of tech. So we’d like to make you an offer. $10,000 to start something. This is not a loan or equity exchange. What we would like to see is a proposal for something you could design, build or manage that could be the new mail-order record club, SoundCloud or iTunes. This is not an investment. I hear you – 10k is a modest amount – but we started small too, and it could act as a runway. Or it could pay for the lights on a runway. Somehow, it could help you get off the ground.”

Fair deal, considering that WeTransfer is ready to shed out sum from its own pocket to give to these employees so they can put their resources into good use and make something new. This actually could be a start of something new if any of these employees have any vision or idea they’d like to execute, or think in a way “What if I owned Soundcloud, how could I make it better?” As of now it's a waiting game. We hope these employees come together and make something new that could someday be a start of something big.

You can read the full post made by Damian Bradfield here and the FAQ that Soundcloud employees will receive with the email here.