Soundcloud said it doubled its revenue in the past 12 months, but still needs to cut costs to ensure the long-term profitability of the business.
The company's future path "requires cost cutting, continued growth of our existing advertising and subscription revenue streams, and a relentless focus on our unique competitive advantage - artists and creators", he wrote in a blog post.
The term "Soundcloud rapper" has taken on a pejorative meaning recently.
Ljung said the service will still be available in 190 countries, despite the staff cuts.
Lauren Conrad Welcomes First Child With Husband William Tell
She married the ex-Something Corporate guitarist in September 2014 after meeting through mutual friends in 2012. Conrad , 31, told July's issues of Fit Pregnancy & Baby that she stayed active during her pregnancy .
Patton Oswalt & Meredith Salenger To Wed - Just 1 Month After Announcing Relationship
She also hinted at the engagement in an earlier post, which featured a picture of her catching the bouquet at a friend's wedding. Salenger graduated from Harvard and is best known for her title role in the 1985 Disney film The Journey of Natty Gann .
Pope's hospital says United Kingdom doctors won't let Charlie Gard travel for care
Previously, a Vatican bioethics advisory panel had made a statement on the need to accept the limits of what medicine can do. Ten-month-old Charlie Gard , who suffers from a rare genetic condition, with his parents, Ms Connie Yates and Mr Chris Gard.
On March 27 in Berlin, Eric Wahlforss, cofounder of German music streaming company SoundCloud told an audience of politicos, entrepreneurs, and the media how important the city of London has been to SoundCloud's success.
Ljung says that SoundCloud will continue to operate as before and will reveal more about its future plans in the coming weeks and months. Spotify and Apple Music are the two largest players in the on-demand streaming music business.
The last official numbers show SoundCloud incurred a €51 million (£45 million) loss in 2015, slightly higher than the €39 million (£35 million) loss it recorded in 2014. It acknowledged the need for new capital, but denied that it was getting ready to sell for pennies on the dollar.
However, the strategy appears to have gone awry for SoundCloud.
It had raised $100 million in new funding last June from several of investors including Twitter.