Pandora Lays Off 20

The bad news keeps coming. At the end of a week that’s seen layoffs across the board, comes the announcement (via Techcrunch) that Pandora, the music streaming Web site, will axe 20 staffers.

In a blog post, founder Tim Westergren said the nine-year-old company would go from 140 to 120 employees. “Like virtually every company, Pandora is not immune to the challenges presented by the current economic turmoil,” he wrote. “We are trying to react quickly and responsibly to the new environment.”

But there’s hope…

Westergren continued:

“There are tough times ahead for the economy, but our listenership is growing rapidly, the Internet radio royalty rate resolution seems finally near, and the explosion of mobile devices like the iPhone are opening up a world of opportunity for internet radio to expand off the desktop. Moreover, our ad sales are growing so well that, not only did we not make any reductions there, we need to continue to hire more.”