Bandcamp loses half of its staff after being acquired by Songtradr

Half of Bandcamp’s staff have misplaced their jobs after the corporate was acquired by Songtradr, based on Enterprise Insider SFGate And diverse. Songtradr spokesperson Lindsay Nahmiache admitted this SFGate Solely 58 of Bandcamp’s 118 staff obtained a proposal in the course of the transition interval. A remaining worker confirmed Nahmiache’s assertion to the publication, reporting that half the corporate had disappeared from its Slack chat room and that the account owned by co-founder and former CEO Ethan Diamond had been deactivated. Some former staff who didn’t obtain provides took to social networks to disclose that they had been saved at the hours of darkness They were in limbo Through the previous two weeks.

Primarily based on Songtradr’s assertion numerousThey mentioned the transfer was financially motivated: “Over the previous few years, Bandcamp’s working prices have elevated considerably.” “It is taken some changes to make sure we’ve a sustainable, wholesome firm that may serve its neighborhood of artists and followers. We’re dedicated to sustaining the present Bandcamp companies that followers and artists love, together with Artist First Income Share, Bandcamp Fridays and Bandcamp Every day.” “We sit up for welcoming Bandcamp to our musically aligned neighborhood. We share a deep ardour for all issues music and can proceed to serve the artists, manufacturers, and followers who make all of it potential.”

What the spokesperson mentioned displays an electronic mail written by Songtradr CEO Paul Wiltshire to remaining Bandcamp staff. He mentioned Bandcamp was not financially wholesome, and that though its revenues have been regular, its working prices had “elevated dramatically making it unattainable to proceed to run the enterprise the way in which it was.”

Songtradr bought Bandcamp from Epic Video games in September, only a yr and a half after the sport developer’s shock acquisition of the music firm. Bandcamp staff have organized beneath Epic’s management, and are actually combating for Songtradr to acknowledge their union. Members mentioned SFGate They’ll now negotiate severance packages with Epic, whereas non-members will obtain six months of severance pay.

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