As the economy continues to deteriorate, another major business, Spotify, has announced that it will be eliminating 6% of its workers.
The restructuring was disclosed in a note to staff that CEO Daniel Ek also put online.
Spotify cuts 6% of its staff
We’ve made the challenging but essential decision to downsize our workforce to more closely match our costs, Ek stated.
This month, major tech firms like Amazon, Microsoft, and Google made tens of thousands of job layoffs as the Covid pandemic-related economic boom began to fade.
Ek claimed that Stockholm-based Spotify was the same.
“I intended to maintain the pandemic’s strong tailwinds and assumed that our extensive global operation and decreased vulnerability to the effects of a slowdown in advertising would protect us. I should not have invested before our sales increase, in retrospect,” Ek remarked.
Without providing an exact amount of job losses, he said the corporation is reducing its global staff by around 6%. According to Spotify’s most recent annual report, the company employed roughly 6,600 employees, which suggests that 400 positions are being eliminated.
Ek added, “I fully accept responsibility for the actions that brought us to this point.
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As the economy continues to deteriorate, another major business, Spotify, has announced that it will be eliminating 6% of its workers.
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