announced a new round of layoffs and a narrower focusThe Santa Clara voice assistant provider didn't say how many jobs will be eliminated as part of a 40% cost-cutting that follows a round of layoffs and pay cutsThose cuts came as SoundHound reported a wider loss in the third quarter despite revenue that was 178% higher than a year ago. SoundHound went public in an April 2021 merger with a blank check company. Its share price has dropped more than 86% since, closing down nearly 7% at $1.
The company's automotive partners use its software to do things like control the air conditioning and open and close windows in their vehicles. SoundHound also offers an app that can identify songs that are playing aloud or when a user hums them.
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