Audio entertainment platform Pocket FM has fired around 50 employees, including consultants and full-timers, in another round of layoffs. A spokesperson said, “We have recently parted ways with 50 employees globally across various business functions. These decisions are performance-based and aligned with our current show pipeline. As part of our business model, we collaborate with hundreds of contract personnel globally, depending on the production demands of our shows.”
On the termination of contractors and consultants, which insiders allege has happened in huge numbers, the spokesperson added: “These contractors, often freelancers, work with multiple content studios, platforms and peers across the industry. It’s important to note that the number of contract personnel fluctuates regularly, based on the completion or initiation of specific projects. This is a standard practice across media and content industries worldwide.”
“Despite these developments, we remain in a phase of strong growth with robust revenue signals. In line with this, we are accelerating our hiring efforts across multiple regions to support our continued expansion,” the spokesperson said further.
In July, some of the writers for the US-based shows were laid off. Several former employees have disputed the number of layoffs at 50 and said “it would be much higher if one included consultants, which is a sizeable segment of its team”.
“Except for the growth managers, the company has fired writers, editors, production people and creatives. No prior intimation was given,” said a mid-senior-level former employee. This person, who claims to have worked with the company since its inception, did not “receive any apology note from the top management” after years of “service”.
Another full-time employee, who has been with the platform for over a year now, is “scared” about the future as the threat of termination looms. The company, which has raised $103 million in its Series D funding this year—its largest yet—is ready to go for yet another round of raising money for the platform. Some of those fired employees accuse the mass layoff was done to appease potential investors. However, Pocket FM has denied these accusations. “We are aware of certain unfounded allegations that have surfaced recently. As we previously mentioned, these claims are malicious and lack basis.”