Paul Cramer’s decade at Veritone has come to an end. The former SVP of Sales for Media, Entertainment and Sports confirmed to Radio Ink that he is among the employees affected by a company-wide layoff, which is expected to cut at least 25% of Veritone’s workforce.
The restructuring stems from a plan to reduce operating expenses by up to 30% that Veritone disclosed in a June 1 SEC filing. The workforce reduction, which includes roughly 112 of its 446 employees, began June 10 in structured phases and is expected to be largely complete by the end of this month.
Cramer arrived at Veritone in 2017 after a decade at Triton Digital, where he rose to Executive VP of Publisher Development for North America. Before that, he served as VP of Affiliate Sales at MJI Interactive. At Veritone, Cramer first built out its radio business, later expanding into the company’s television vertical. He was promoted from Managing Director of Media and Broadcasting to his most recent role in July 2023.
“It was a thrill joining Veritone nearly a decade ago when Veritone was on the ‘bleeding edge’ of AI as an audio-intelligence startup. At that time, most of our prospective customers didn’t even know what ‘AI’ stood for! It was a privilege leading our growth from customer No. 1 to over 2,000 software and services clients. In that time, Veritone transitioned from a purely audio-intelligence company to an AI operating system with specialized point solutions for content management, intelligence, metadata enrichment, and API-first workflows, eventually empowering some of the largest media companies and sports organizations in the world.”
