Spotify has introduced it’s shedding 17 per cent of its workers globally in what’s the music streaming big’s third spherical of job cuts in 2023 amid struggles to make sure profitability, as per experiences.
A spokesperson confirmed to AP that the variety of staffers getting the axe quantities to about 1,500.
Spotify CEO Daniel Ek in a message to the corporate’s workers on Monday mentioned the layoff was a part of a strategic reorientation after the corporate invested considerably in workers, content material and advertising and marketing in 2020 and 2021.
Ek mentioned Spotify is in a special atmosphere now after central banks began mountaineering rates of interest final 12 months. “And regardless of our efforts to scale back prices this previous 12 months, our price construction for the place we should be remains to be too huge,” he mentioned, including that fewer workers will make sure the agency’s continued profitability.
The Stockholm-based music streaming big introduced in January that it was letting go 6 per cent of world workforce and in June, it axed 2 per cent of its workers who had been primarily within the podcast division.
In November, a number of workers in Amazon Music’s editorial and audio content material crew in Latin America, North America and Europe had been despatched notices about layoffs. Over 27,000 Amazon workers had been affected by job cuts over the previous 12 months.
