Spotify lays off six percent of staff

Spotify is going to lay off about six percent of its staff. This has been announced by founder and director Daniel Ek. It concerns a total of around six hundred people worldwide. According to Ek, Spotify has hired too many people in recent years.

Spotify wants to save costs with the step, says Ec. Around ten thousand people work at Spotify, bringing the six percent figure to about six hundred people. It is unknown at which departments and in which countries the layoffs will take place.

According to Ek, Spotify has hired far more people in the past year than its growth in revenue warranted. According to the founder, that was not sustainable anyway. In addition, the economy has deteriorated in recent times, which he says necessitates the layoffs. The organizational structure is also changing with the layoffs, with chief content officer Dawn Ostroff leaving. She worked at Spotify since 2018.

In a long line of tech companies, Spotify is the latest to announce layoffs. Google did that Friday. Microsoft recently announced that it is cutting 10,000 jobs, which the company says is less than five percent of its total workforce. Amazon also lays off staff; eighteen thousand employees will lose their jobs here. Facebook parent company Meta announced last year that eleven thousand jobs will be lost.