edited by: Mohammad Haris
Last Update: January 23, 2023, 11:43 AM IST
Spotify fired 38 employees from its Gimlet Media and Parcast podcast studios in October.
The number of positions to be removed is not yet known; Spotify has approximately 9,800 employees
At a time when tech companies are laying off employees, Spotify technology SA is also going to join the list of companies it plans to lay off as soon as this week to cut costs, according to a Bloomberg The report quoted people familiar with the plans. It added that the number of posts to be removed was not specified by the people.
Spotify has approximately 9,800 employees. In October, the music-streaming giant laid off 38 employees from its Gimlet Media and ParkCast podcast studios.
Companies that have announced layoffs include Twitter, Meta, Disney, Microsoft and Amazon. In recent financial results, Alphabet, Meta, Microsoft and others missed estimates.
Amazon has the most at 18,000 employees, followed by Meta (11,000), Microsoft (10,000), Salesforce (8,000), HP (6,000), Twitter (3,700), and Seagate (3,000). Google It has also announced to lay off 12,000 employees.
Spotify made a massive commitment to podcasting in early 2019. The company spent over a billion dollars to acquire a podcast network, production software, a hosting service and the rights to popular shows such as The Joe Rogan Experience and Armchair Expert. Bloomberg,
Last week, Microsoft also announced that it would lay off 10,000 employees — about five percent of its total workforce — in the coming days amid concerns of a global economic recession. The job cuts were made “in response to macroeconomic conditions and changing customer preferences,” the maker of the Windows operating system said in a US regulatory filing. Microsoft is the latest to cut jobs after Facebook and Amazon in a bloodbath in the tech sector that began last year, continuing through 2023.
Amazon also recently announced that it would cut more than 18,000 jobs from its workforce, citing an “uncertain economy” and the fact that the online retail giant had “hired rapidly” during the pandemic. “Combining the cuts we outlined in November and the ones we’re sharing today, we plan to eliminate just over 18,000 roles,” CEO Andy Jassy said in a statement to his employees. The company had announced 10,000 layoffs in November.
Twitter has since laid off nearly half of its 7,500-strong workforce Elon Musk While Meta is laying off more than 11,000 employees in one of the major layoffs worldwide.
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