NEW YORK – Music platform Spotify on Monday announced a 6% reduction in its workforce, thus joining a long list of technology companies that have cut their workforce as they look to recover from the boom experienced during the pandemic. And now there are fears for a possible overall recession. ,
The Stockholm-based company has about 8,600 employees worldwide, according to its website.
Last year, the company had said it was not planning to lay off anyone, but would curb recruitment.
“Over the past few months we’ve made great efforts to control costs, but it’s not enough,” Spotify Chief Executive Daniel Ek said in a statement today.
One explained that “like many other politicians” he was expected “to keep the tail of the pandemic strong”, but that he was “too ambitious” and that he now assumes “full responsibility”.
The executive chairman informed that the terminated employees would get severance pay of five months.
One also announced some senior management changes, including Spotify’s chief content officer, Dawn Ostroff, leaving the company.
Spotify is one of the world’s most popular music platforms, as the company reported in October that it had approximately 456 million monthly active users.
The move apparently came at the request of Adele, who asked that the songs from her new album “30” be played in the correct order and not randomly.
The company’s announcement on Monday is the latest in a wave of tech layoffs as the industry recalibrates after a rapid upswing at the start of the pandemic.
Last week, Alphabet (Google) announced that it would reduce its workforce by about 12,000 people, 6.4%, and software company Microsoft announced that it would lay off 10,000 employees, which is 5% of its workforce. is less than
For its part, Amazon announced new layoffs, thus continuing with its goal of eliminating just over 18,000 jobs, including the layoffs announced last November, on which date it had already lost about 10,000 jobs. was closed.
In recent months, companies such as Facebook’s parent company Meta have also joined the trend, which laid off 11,000 employees; Salesforce, which fired 7,000, Twitter, which got rid of 3,700, and Tesla, which laid off 6,000.