Pandora (NYSE:P) has announced a new round of layoffs.
The online music streaming service will eliminate 140 to 180 jobs by the end of the year following the company’s acquisition of Rdio, another online music streaming service.
More than half of Rdio’s staffers will lose their jobs, but Pandora added that “many members of Rdio’s team will be offered roles with Pandora.” About 100 Rdio workers will be employed by Pandora.
Pandora announced plans to acquire Rdio on Nov. 17 for $75 million as the company as in the process of filing for bankruptcy.
The company will use components from Rdio to build its own music-streaming unit.
P stock is down 3.5% Friday.
