As the year draws to a close, many Spotify employees have received bad news.After two rounds of layoffs of 6% and 2% at the beginning and mid-year, Spotify has now decided toLay off another 17% of staff(approximately 1,500 people). In order to meet the “coming challenges”, CEO Daniel Ek finally chose to reduce employees in one go rather than in batches. The laid-off employees will be notified later today, and Spotify will provide them with 5 months’ salary as severance pay, as well as medical insurance, visas and other related support.
“Given our recent strong financial numbers and company performance, I know that such large-scale layoffs will be a surprise to many people,” Ek said. “We have discussed conducting smaller cuts in 2024 and 2025. of attrition, however, given the gap between our financial target position and current operating costs, we ultimately decided to take greater action to right-size the company’s costs, which was the best option to achieve our goals. Although I firmly believe that this is the best choice for Spotify It’s the right thing to do, but I also understand it will be incredibly painful for our team.”
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2023-12-04 15:32:51
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