Spotify to Fire 17 Percent of Global Workforce –

Spotify is taking drastic measures to improve its efficiency by cutting 17% of its global workforce. CEO Daniel Ek stated in a blog post that approximately 1,500 jobs will be impacted by the layoffs. This move comes after previous rounds of job cuts in the company’s podcast division and the termination of exclusive podcasting deals. Despite recent positive earnings, Ek explained that the reduction is necessary to align with the company’s financial goals. He also expressed that the decision is crucial for Spotify’s future and a step towards becoming a stronger and more efficient company. The music streaming giant is focused on achieving profitability and reshaping its operations for the future.

Summery :

– Spotify is cutting 17% of its global workforce, impacting approximately 1,500 jobs
– The company has been focused on profitability, reporting better-than-expected third-quarter subscriber gains and a surprise operating profit
– The cuts come after previous layoffs in the podcast division and programming, with the company ending exclusive deals and merging podcasting studios
– Founder and CEO Daniel Ek stated that the decision to reduce the team size is a crucial step towards making Spotify stronger and more efficient

Image Credit : The Hollywood Reporter

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