Monday, March 20, 2023

Music streaming service Spotify is cutting around 600 jobs

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After Microsoft, Amazon and Facebook

Music streaming service Spotify is cutting around 600 jobs

The music streaming market leader Spotify is the next big company in the tech industry to lay off employees. Around six percent of the employees should go, as founder and boss Daniel Ek announced on Monday.

Published: 7 minutes ago

The music streaming provider Spotify is cutting jobs. Around 600 of the 9,800 full-time positions are likely to be lost. (Iconic image)

Around 600 jobs are likely to be affected by the job cuts: as of the last reporting date September 30, the Swedish company had a good 9,800 full-time jobs.

Ek pointed out that Spotify needs to become more efficient. Like others, he had hoped that the business tailwind from the corona pandemic would continue. “Looking back, I was overly ambitious on investments that outpaced our revenue growth,” Ek wrote in an email to employees.

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