Pocket FM Layoffs

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Pocket FM, an audio streaming platform backed by Lightspeed, has laid off close to 200 writers, specifically those working on US-based audio series. While the exact number was not officially disclosed, it is reported to be less than 200, and the company clarified that these writers were on short-term contracts rather than full-time employees. The layoffs, occurring around a month after Pocket FM partnered with GenAI platform ElevenLabs to convert text stories into audio, were implemented to align resources with the current show pipeline. Founded in 2018, Pocket FM operates in the media and entertainment industry and recently secured $103 million in Series D funding to expand in the US, Europe, and Latin America. Despite the layoffs, the company emphasized that these adjustments are common in content creation and do not reflect its overall health, noting significant revenue growth in its India division.

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