Spotify is planning layoffs as soon as this week, according to people familiar with the plans.
Spotify Technology is planning layoffs as soon as this week, according to people familiar with the plans, joining a slew of technology companies from Amazon.com to Meta Platforms in announcing job cuts to lower costs.
The number of positions to be eliminated wasn’t specified by the people. Spotify laid off 38 staff from its Gimlet Media and Parcast podcast studios in October. The music streaming giant has about 9 800 employees, according to its third-quarter earnings report.
Tech companies added to their headcounts during the pandemic but were forced to make reductions in response to reduced advertising revenue and a shaky economic outlook. Amazon, Meta and Microsoft were among the biggest companies to announce staff reductions recently, while Google parent Alphabet said Friday it will cut about 12 000 jobs, more than 6% of its global workforce.
A Spotify spokesman declined to comment on the upcoming cuts.