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Spotify lays off 17 percent of its employees

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Spotify lays off 17 percent of its employees

On Monday morning, Spotify announced: A few days after the “Wrapped” campaign, employees in several countries will be laid off.

CEO and founder Daniel Ek plans to use resources more efficiently to save costs. Jakub Porzycki/NurPhoto via Getty Images

Just a few days after its “2023 Wrapped” campaign, Spotify is laying off 17 percent of its workforce. The company announced this on Monday. According to reports from the “New York Times” and “Bloomberg“This involves almost 1,500 positions. The reason for the wave of layoffs was growth difficulties last year.

The affected employees will speak to the responsible human resources manager by Tuesday, Spotify said in a statement Explanation communicates. The wave of layoffs affects the workforce in several countries. When asked by Gründerszene, the company did not want to announce whether the location in Berlin was also affected.

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Spotify wants to become more efficient

The surprise announcement comes a few days after the launch of the “Wrapped” campaign, which according to Forbes Reached more than 500 million users.

“Spotify Wrapped” is an annual review that Spotify personally presents to its users. This overview gives users insights into their listening habits and user behavior, including their top artists, songs and preferred genres. This individual review is created using data collected throughout the year, including total minutes streamed and songs played. Spotify did not want to make a statement about the timing to Gründerszene.

“We still have too many resources engaged in support activities and even doing work related to the actual tasks, rather than making a real contribution to opportunities with significant impact,” said CEO and founder Daniel Ek in a statement. “There is a need for more people to focus on delivering tangible results for our key audiences – namely creatives and consumers.”

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The company plans to focus on a leaner structure to be more strategic about how it reinvests profits in the business, Ek said. The CEO wants to explain the measures in detail on Wednesday.

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