Spotify Layoffs: Just after Google, Microsoft and Amazon!
By Tech Tudum
8. Spotify, a Swedish music streaming firm, is planning to cut jobs across various teams.
7. The company had 9,800 employees around the world as of its December quarter earnings report.
6. 38 employees were fired in October last year from its podcast-producing subsidiaries.
5. It is currently unclear which divisions will be affected and how many jobs may be reduced.
4. Spotify has been facing criticism for its investments in podcast production and the lack of profit from these investments.
3. The company stated in June that it may take up to two years to see returns on podcast production investments.
2. The market for audio-focused content, such as audiobooks and podcasts, is still considered a niche market and creators are not fully embracing audio as a format.
1. Spotify's announcement also comes at a time when other major tech companies, such as Microsoft and Alphabet, have also announced plans to lay off.
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