Spotify announced that it will part ways with approximately 17% of its workforce in order to reduce costs. Spotify laid off 600 employees in January and 200 in June.Spotify’s CEO, Daniel Ek, stated that the layoffs were made due to the difficulties facing the company, and that they preferred to take action now instead of small layoffs over time. The CEO also stated that being lean is not an option but a necessity for the future of the company.
Following the layoffs, Spotify’s number of employees will decrease by approximately 1,500 from 9,000. The company, which has grown steadily since its founding, now has 574 million monthly users. Spotify is also a company that has difficulty making a profit. However, the company announced a profit after a long time in the last quarter.
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