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Tuesday, February 7, 2023
HomeTechnologySpotify will lay off 6% of employees

Spotify will lay off 6% of employees

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Spotify Technology announced on Monday (23) plans to lay off 6% of its workforce, or about 600 employees, expanding the group of technology and media companies that have taken similar measures on the grounds of preparing for a recession.

The company also said that Vice President of Content and Advertising Dawn Ostroff will be leaving the company as part of the reorganization.

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Spotify, which had about 9,800 employees as of September 30, said it expects to incur expenses of €35m to €45m related to the layoffs.

In the early days of this month, Alphabet and Microsoft announced tens of thousands of layoffs.

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Spotify announced in October that it was slowing down hiring for the remainder of the year and 2023. The company’s stock has accumulated a more than 50% drop in 2022.

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