Spotify, the world’s leading audio platform, announced Monday that it will cut 6% of its workforce, that is, about 600 jobsfollowing a wave of layoffs among tech giants.
“In the next few hours, individual interviews will be carried out with the affected employees”
“In the next few hours, individual interviews will take place with the affected employees,” CEO and co-founder of the Swedish company, Daniel Ek, said in an online message to employees.
“In retrospect, I have been too ambitious investing faster than the growth of our turnover“, he pointed.
“For this reason, we reduced our staff by around 6% throughout the group,” explained the director of the group, which is listed on the New York Stock Exchange.
Although Spotify has been occasionally profitable, the company It has usually registered losses for several years, despite the lightning growth of its number of subscribers and the advantage it gains over its competitorscomo Apple Music.
“As you know, in recent months we have made a considerable effort to reduce our costs, but that simply has not been enough,” said Daniel Ek.
Spotify’s announcement, which will release its annual results on January 31, follows a series of layoff plans announced by big tech groups in recent weeks.
Following the layoffs at Amazon, Meta and Microsoft, Google announced on Saturday that it will eliminate 12,000 jobs worldwide, that is, something more than 6% of its workforce. On Wednesday, Microsoft announced that it would make 10,000 layoffs by April.
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