Spotify to cut 6% of workforce, some 600 employees

Spotify to cut 6% of workforce, some 600 employees – CEO

By Agence France-Presse

Jan 23, 2023 9:19 pm

STOCKHOLM: Swedish music streaming giant Spotify said on Monday it was cutting six percent of its roughly 10,000 employees, the latest cost-cutting announcement among technology companies.

'In hindsight, I was too ambitious in investing ahead of our revenue growth. And for this reason, today, we are reducing our employee base by about six percent across the company,' Spotify chief executive Daniel Ek said on Spotify's official blog.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

DOJ to study if case can be filed

Thousands flee as Ofel slams NLuzon

Duterte vows to hang himself if bank accounts are really his

Global diabetes has doubled in last 30 years

Govt allots P875M more to disaster response

Go urges lawmakers: Restore OVP budget

Sufficient funding sought for regional specialty centers