Saturday, January 28, 2023

Spotify announced that it will cut 6% of its staff

Spotify The world leader in audio platforms, announced on Monday that it will cut 6% of its workforce, or about 600 jobs, following a wave of layoffs among the technology giants.

“Over the next few hours, there will be individual interviews with affected employees,” said the Swedish company’s CEO and co-founder. Daniel In a message addressed to employees and published on the Group’s website, it listed NYSE,

“In retrospect, I have been too ambitious to invest faster than my turnover growth,” he said.

“For this reason, we have reduced our staff by approximately 6% across the group,” explained the director of the group.

Although Spotify has sometimes been profitable, the company has been loss-making for many years, despite its lightning-fast growth in subscriber numbers and advantages over its competitors, such as Spotify. apple music,

“As you know, in the last few months we have made great efforts to reduce our costs, but it is not enough,” said one.

Spotify’s announcement, which will publish its annual results on January 31, follows a series of layoff plans announced by big tech conglomerates in recent weeks.

after layoffs in Amazon, meta why Microsoft, Google announced on Saturday that it would eliminate 12,000 jobs worldwide, ie just over 6% of its workforce. On Wednesday, Microsoft announced it would lay off 10,000 by April.

Nation World News Desk
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