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2023-01-24 Economy
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Spotify to lay off 6 percent of its workforce as tech bloodbath widens
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[NYPOST] Spotify will lay off some 6% of its 6,600-strong workforce as the streaming giant is the latest tech firm to undertake cost-cutting measures to cope with a struggling economy.
The Sweden-based company will shed some 400 employees who will be paid an aggregate of between $38 million and $48 million in severance, according to Bloomberg News.
Spotify also announced the departure of Dawn Ostroff, the company’s chief content and advertising business officer. Ostroff leaves amid a company-wide reorganization.
A Spotify spokesperson referred The Post to a statement by company CEO Daniel Ek, who said that the firm was seeking to "improve efficiency."
"As part of this effort, and to bring our costs more in line, we’ve made the difficult but necessary decision to reduce our number of employees," Ek said.
Tech giants' bloodbath continues: Now Spotify will axe 6% of its workforce THIS WEEK after similar culls at Microsoft, Amazon and Alphabet
[Daily Mail, where America gets its news] - An estimated 588 staff will be axed from Spotify in mass layoffs
- 'Richcession' has seen thousands of white-collar tech jobs gutted
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Posted by Fred 2023-01-24 00:00||
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Posted by Glenmore 2023-01-24 10:27||
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Posted by Thogum Sproing6437 2023-01-24 16:04||
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Posted by Rambler in Virginia 2023-01-24 17:19||
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