The technology industry is entering a recession. With the world opening up after the most critical phase of the COVID-19 pandemic and the end of lockdowns, they are various companies They are laying off workers. Spotify is one of them.
The music streaming company announced that it will lay off 600 workers, which is equivalent to 6% of its payroll. Spotify did not provide details on which areas it concentrated the layoffs.
The announcement of the layoffs was made a couple of days ago by the CEO of the company: Daniel Ek, who in a letter addressed to the workers indicated that «Like many other leaders, I hoped to sustain the strong tailwinds of the pandemic and I thought our vast global business and lower risk of the impact of a slowdown in ads would isolate us. In retrospect, I was too ambitious in investing before our revenue growth. […] I take full responsibility for the actions that have brought us here.«.
Spotify is crashing
Three days after the announcement, the platform experienced a global crash, which has infuriated its users. The platform that monitors the status of online services, DownDetector you are registering a large number of complaints per user.
The company -for the moment- has not explained the causes of the fall, but the service has begun to be restored.
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