Highlights

Spotify to cut jobs this week
Follows other big tech firms
Podcast business not yet profitable

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Spotify to reportedly cut jobs this week

Name: Spotify to reportedly cut jobs this week
Uploaded: 2023-01-23T13:37:11.000+05:30
Duration: T00M44S
Channel: Editorji News Desk
Description: Job losses in the tech industry continue with Spotify now planning to cut jobs.

Job losses in the tech industry continue with Spotify now planning to cut jobs.

Updated: Sep 02, 2022 10:53

Editorji News Desk

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Spotify to reportedly cut jobs this week

Music streaming service Spotify is reportedly planning on reducing their staff in the near future.

This follows other tech companies, such as Google, Meta and Microsoft, who have also recently announced staff reductions due to decreased advertising revenue and an uncertain economic situation.

The firm had previously cut 38 jobs in October, and currently has around 9,800 employees.

Spotify has invested heavily in podcasting since 2019, but investors have been growing impatient after shares dropped 66 percent last year.

Spotify executives have said that the podcast business should become profitable within the next one to two years.

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