Customized Internet radio service Pandora revealed in a blog post today that it is laying off about 20 employees, reducing the company size 14% from 140 to 120 employees.

Company founder Tim Westergren did not reveal any specific reasons behind the decision other than citing "the current economic turmoil." Instead, he listed a number of potential positives, such as the likely resolution of the Internet radio royalty dispute, the popularity of the Pandora iPhone app, and what he says are positive ad sales.

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