Pandora will retain data about the music Uber drivers listen to.
Photograph by Andrew Harrer — Bloomberg via Getty Images
By Reuters
January 12, 2017

Music streaming service Pandora said it would reduce about 7% of its U.S.-based workforce and also expects to surpass its previous fourth-quarter revenue forecast.

Shares of Pandora were up 6.8 at $12.81 in extended trading.

Pandora (p) said the job cuts, which would be executed by the end of the first quarter in 2017, are intended to reduce operational costs in 2017.

Get Data Sheet, Fortune’s technology newsletter.

As of Dec. 31, 2015, Pandora had 2,219 employees.

The company, which in October forecast fourth-quarter revenue in the range of $362 million to $374 million, said revenue would exceed its previous forecast due to higher advertising revenue and an increase in paid subscribers.

SPONSORED FINANCIAL CONTENT

You May Like

EDIT POST