Music streaming service Pandora said this week it plans to move an unspecified number of workers to Atlanta as part of a broader restructuring of its business.
The Oakland, Calif.-based company said in a Securities and Exchange Commission filing it will cut 5 percent of its workforce as part the restructuring plan, which it expects will result in about $45 million in annual cost savings. The changes, in addition to cutting costs, will focus on advertising technology and audience development.
Pandora competes in the crowded streaming music business against rivals such as Spotify, Apple Music and Amazon. The company said in November it had 5.2 million total subscribers, of which 1 million were paid users of its premium service.
The…
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