The streaming service had already laid off around 800 employees in the first half of the year
After laying off around 800 employees in the first quarter of 2023, the Spotify announced this Monday, the 4th, that another 1500 employees, corresponding to 17% of the workforce, will be laid off (via Al Jazeera).
The decision aims to cut costs, according to the streaming service, and follows the trend of other technology companies, such as Amazon It is LinkedInfrom the Microsoft.
Daniel EkCEO of Spotifywrote to employees saying that the number of hires between 2020 and 2021 was higher due to the cost of capital, and although production has increased, this is due to the availability of more resources.
With the aim of reaching one billion users by 2030 — there are just over 600 million currently — the company invested US$1 billion to develop podcasts and hired celebrities such as kim kardashianPrince Harry It is Meghan Markle.
Source: Rollingstone
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
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