SoundHound is the latest tech company to issue wide-spread layoffs as the voice AI platform has laid off 10% of their staff amid ongoing economic turmoil across global markets citing “challenging market conditions.”
“Yesterday, we announced to our SoundHounders that we are taking actions to streamline our company, including an approximate 10% reduction in workforce. We don’t take this lightly, but in the face of challenging market conditions, we must channel our investments into the areas that continue to drive growth and allow us to best serve our customers. We’re extremely grateful to the departing colleagues that have contributed to our success as a leading voice AI platform,” a SoundHound spokesperson said in a statement issued to TechCrunch.
SoundHound has a total of 450 employees, which means that around 45 people were impacted by the layoffs.
The company is known for the tech that powers voice-enabled experiences in a number of the cars provided by Hyundai, Mercedes-Benz and Honda, and as the voice AI technology used by the likes of Mercedes-Benz, Deutsche Telecom, Snap and Mastercard.
