Spotify Layoffs: Just after Google, Microsoft and Amazon!

8. Spotify, a Swedish music streaming firm, is planning to cut jobs across various teams.

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7. The company had 9,800 employees around the world as of its December quarter earnings report.

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6. 38 employees were fired in October last year from its podcast-producing subsidiaries.

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5. It is currently unclear which divisions will be affected and how many jobs may be reduced.

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4. Spotify has been facing criticism for its investments in podcast production and the lack of profit from these investments.

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3. The company stated in June that it may take up to two years to see returns on podcast production investments.

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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.

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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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