Popular music and podcast streaming provider Spotify is planning to announce layoffs this week, according to a new report from Bloomberg. The move is reportedly a cost-cutting measure for the company.
The company has not yet said how many jobs it will cut. In 2019, it had 38 people from its Gimlet Media and Parcast podcast studios. Given pink slip in OctoberIncluding the podcast editorial staff in September. Accordingly, Spotify currently has approximately 9,800 employees. Third quarter earnings report.
Spotify will join the ranks of many tech companies that have recently laid off employees. In November last year, Meta announced layoffs of more than 11,000 employees. In the same month, Twitter cut its workforce in half after the popular microblogging company was acquired by business mogul Elon Musk. What’s more, HP is set to cut up to 10 percent of its workforce over the next three years, and Tesla will cut its headcount this quarter after seeing the company’s stock fall.
Most recently, Microsoft confirmed 11,000 job cuts while Amazon will lay off about 18,000 employees as part of broader cost-cutting measures. Last week, Google also announced a major layoff, bidding farewell to nearly 12,000 of its staff.
Spotify has yet to comment on the matter.
Source: Bloomberg
