SoundHound is struggling to grow and now the company is reportedly laying off staff as a part of their downsizing process, according to three employees who spoke anonymously to Gizmodo.
SoundHound had announced the first round of layoffs back in November 2022, letting go of around 10% of their workforce at the time.
Those employees also shared an email that was sent from SoundHound’s CEO which showed that the employees that were laid off will only receive two weeks of severance pay and no healthcare benefits.
“I was expecting a 17-year-old company, which is now a public company, to at least provide bare minimum severance,” one employee said, per the report.
SoundHound CEO Keyvan Mohajer reportedly wrote: “When we set course in early 2021 to become publicly listed, high tech companies like SoundHound were the darlings of the investor community.”
“Companies who could achieve high growth, despite high costs, were seen as engines of a future economy. However, as a result of changing economic conditions, including high interest rates, rising inflation, and fears of recession, companies with our profile became much less desirable.”
