Spotify to sack 1,500 employees during its third layoffs round this year
1 year ago

Spotify to sack 1,500 employees during its third layoffs round this year

Hindustan Times  

Music streaming giant Spotify said on Monday that it will lay off around 1,500 employees, or 17% of its headcount, to bring down costs, after letting 600 of its staff go in January, and 200 more in June. REUTERS/Dado Ruvic/File Photo After a round of job cuts at the start of the year by tech companies, some have begun reducing their workforce again, with announcements coming from Amazon to Microsoft-owned LinkedIn. In a letter to employees, Spotify CEO Daniel Ek said the company hired more in 2020 and 2021 due to the lower cost of capital and while its output has increased, much of it was linked to having more resources. In the third quarter the company swung to a profit, aided by price hikes in its streaming services and growth in subscribers in all regions, and the company forecast that its number of monthly listeners would reach 601 million in the holiday quarter.

Employees Company Spotify Million Users Layoffs Round  employees  1500  streaming  start  company  costs  million  users  layoffs  round  ek  spotify  severance  sack

History of this topic

Spotify layoffs: Company's CEO admits job cuts disrupted ‘day-to-day operations’
7 months, 4 weeks ago

Spotify layoffs: Company's CEO admits job cuts disrupted ‘day-to-day operations’

Hindustan Times  

Spotify layoffs: Daniel Ek, the CEO of Spotify, said that laying off 1500 employees back in December, which is around 17% of employees, as part of an aggressive efficiency drive as the company strived for better profits, posed a challenge for the company. Daniel Ek told investors, “Although there's no question that it was the right strategic decision, it did …

Ex-Spotify employee calls layoffs an emotional roller coaster, says she has no words to express herself
1 year ago

Ex-Spotify employee calls layoffs an emotional roller coaster, says she has no words to express herself

India Today  

2023 has been a tough one for techies across the globe as major companies like Amazon, Google, Meta and Microsoft announced large-scale layoffs this year. One of these employees shared how she lost her job and that it has been an "emotional roller coaster." Unfortunately, I too was affected by the recent round of layoffs at hashtag#spotify and it’s been …

Spotify CEO Explains Why 1500 People Were Laid Off In December 2023: Know More
1 year ago

Spotify CEO Explains Why 1500 People Were Laid Off In December 2023: Know More

News 18  

Spotify continues to churn out high subscriber numbers in the market which gives it a clear lead over Apple Music and other services. Generally, companies decide to remain silent when they lay off employees but Spotify CEO has done the right thing by highlighting the reason for 1500 Spotify employees losing their job this month. According to a report by …

Spotify CFO Paul Vogel to leave next year, company says
1 year ago

Spotify CFO Paul Vogel to leave next year, company says

Hindustan Times  

Spotify's chief financial officer will step down next year, according to the music streaming service, just days after it announced its third round of layoffs for 2023. Spotify’s chief financial officer, Paul Vogel, is leaving next year, the music streaming service said, Friday, Dec. 8, 2023, — just days after the company announced its third round of layoffs for 2023. …

Spotify to fire 1,500 employees in its third round of layoffs in 2023: Story in 5 points
1 year ago

Spotify to fire 1,500 employees in its third round of layoffs in 2023: Story in 5 points

India Today  

Spotify, a famous music streaming service, faced tough times in 2023. This decision, led by the company's CEO, Daniel Ek, marked the third major round of job cuts that year, impacting about 17 per cent of their workforce. These challenges arose as Spotify grappled with financial pressures despite being a dominant force in the global music streaming industry. To align …

Spotify reduces workforce by 17%, cuts 1,500 jobs: Report
1 year ago

Spotify reduces workforce by 17%, cuts 1,500 jobs: Report

The Hindu  

Spotify is reducing its workforce by 17% in one the biggest layoffs in the audio streaming platform this year. Spotify CEO Daniel EK in statement said the company has too many people dedicated to supporting work rather than contributing to opportunities with real impact. Ek further shared that the company had debated making smaller cuts over the next two years …

Spotify Is Screwed
54 years, 11 months ago

Spotify Is Screwed

Wired  

Just days after people gleefully posted their Spotify Wrapped, bad news came for the music streaming giant. Ek said the cuts may seem “surprisingly large given the recent positive earnings report and our performance,” but due to “the gap between our financial goal state and our current operational costs,” Spotify would take “substantial action.” Despite its popularity, the company has …

Spotify axes 17% of workforce in third round of layoffs this year
1 year ago

Spotify axes 17% of workforce in third round of layoffs this year

Associated Press  

LONDON — Spotify says it’s axing 17% of its global workforce, the music streaming service’s third round of layoffs this year as it moves to slash costs while focusing on becoming profitable. In a message to employees posted on the company’s blog Monday, CEO Daniel Ek said the jobs were being cut as part of a “strategic reorientation.” The post …

Spotify cuts 17% of its global workforce in the latest round of cuts
1 year ago

Spotify cuts 17% of its global workforce in the latest round of cuts

LA Times  

Spotify on Monday said it is laying off 17% of staff. “Economic growth has slowed dramatically and capital has become more expensive,” said Daniel Ek, Spotify’s chief executive, in a blog post. “Spotify is not an exception to these realities.” Ek said the company had considered making smaller reductions in 2024 and 2025 instead, but “considering the gap between our …

Spotify to cut 17% of staff in the latest round of tech layoffs
1 year ago

Spotify to cut 17% of staff in the latest round of tech layoffs

NPR  

Spotify to cut 17% of staff in the latest round of tech layoffs Enlarge this image toggle caption Toru Yamanaka/AFP via Getty Images Toru Yamanaka/AFP via Getty Images The music streaming giant Spotify has announced it's cutting 17% of its workforce in a dramatic move aimed at slashing costs. In a memo addressed to staff, CEO Daniel Ek said it …

Spotify cuts 200 jobs in its podcast division but promises new original series incoming
1 year, 6 months ago

Spotify cuts 200 jobs in its podcast division but promises new original series incoming

India Today  

Spotify has announced plans to revamp its Podcast division by making structural changes, which includes cutting 200 jobs -- roughly 2 per cent of Spotify's global workforce. In a blog post, Sahar Elhabashi, VP and head of Spotify's podcast business, suggests that podcast listeners continue to grow and the company also enjoys a stable position on the market. In the …

Podcasting giant Spotify cuts 200 more jobs amid industry struggles
1 year, 6 months ago

Podcasting giant Spotify cuts 200 more jobs amid industry struggles

LA Times  

The engineer room in “Pod City” at Spotify’s regional headquarters in Los Angeles. The Stockholm-based audio company said podcast production companies Gimlet and Parcast will be combined into a “renewed Spotify Studios operation” that will be overseen by Julie McNamara, head of global podcast studios. The company heavily invested in podcasting over the years, buying several production companies such as …

Indian employee fired by Spotify says it feels like a bad dream, has 60 days to find a new job to stay in US
1 year, 10 months ago

Indian employee fired by Spotify says it feels like a bad dream, has 60 days to find a new job to stay in US

India Today  

The tech job market is in shambles as employees keep getting struck by mass layoffs happening all over the world. Feels like a bad dream, says woman working in the US The woman was working with Spotify as a Software Engineer, Data, since the last 1.5 year. Beginning her post on a wretched note, she writes that the day before …

Why did Spotify layoff 600 employees globally?
1 year, 11 months ago

Why did Spotify layoff 600 employees globally?

India TV News  

Spotify, a music streaming giant has announced to slash 6 per cent of its workforce which means, the company is set to remove around 600 staffers, across the world. Image Source : PIXABAYSpotify "And for this reason, today, we are reducing our employee base by about 6 per cent across the company. The company said that an average employee of …

Spotify latest tech name to cut jobs, axes 6% of workforce
1 year, 11 months ago

Spotify latest tech name to cut jobs, axes 6% of workforce

Associated Press  

LONDON — Music streaming service Spotify said Monday it’s cutting 6% of its global workforce, or about 600 jobs, becoming yet another tech company forced to rethink its pandemic-era expansion as the economic outlook weakens. Big tech companies like Amazon, Microsoft and Google announced tens of thousands of job cuts this month as the economic boom that the industry rode …

Spotify could cut staff as early as this week
1 year, 11 months ago

Spotify could cut staff as early as this week

The Hindu  

Spotify Technology is planning layoffs as soon as this week to cut costs, Bloomberg News reported on Sunday, joining the likes of Alphabet Inc., Amazon.com Inc., and Microsoft Corp. who have cut thousands of jobs recently. Swedish music streaming giant Spotify said Monday that it was cutting six percent of its roughly 10,000 employees, the latest among a slew of …

Spotify confirms layoffs, plans to fire around 600 employees
1 year, 11 months ago

Spotify confirms layoffs, plans to fire around 600 employees

India Today  

Music streaming firm Spotify Technology SA said on Monday it plans to cut 6 percent of its workforce, or roughly 600 jobs, adding to a glut of layoffs in the technology sector as companies prepare for a possible recession. Spotify, which had about 9,800 full-time employees as of Sept. 30, said it expects to incur about 35 million euros to …

Spotify kills 11 original podcasts, lays off around 5% staff
2 years, 2 months ago

Spotify kills 11 original podcasts, lays off around 5% staff

India TV News  

Spotify, a music streaming platform has been reportedly shuttering down 11 original podcasts from its in-house studios, as a part of cost-cutting and layoffs which recently took place. Among the podcasts which got cancelled from the in-house studio's Gimlet and Parcast are How to Save a Planet Crime Showa Medical Murders to name a few Also, in the second quarter …

Spotify lays off staff, shuts down its podcast studio
2 years, 11 months ago

Spotify lays off staff, shuts down its podcast studio

India TV News  

Highlights The team rounded out Spotify's in-house studio offerings The team of Spotify Studios had 10 to 15 employees who lost their jobs Gina Delvac, Studio Head was also laid off Swedish music streaming giant Spotify has shut down its podcast studio and laid off some members of the team, the media reported. Studio 4, or Spotify Studios, had 10 …

Discover Related