Spotify Plans To Cut Jobs And Restructure The Organization
Written by Andre on January 23, 2023
More layoffs are happening in the tech world. Spotify will be cutting costs through laying off staff. The company is joining Amazon, Microsoft, and Alphabet Inc. (a Google company) in thousands of job cuts.
The number of job layoff is not clear according to Reuters.com however there have been reports that say 6% of jobs will be eliminated. Spotify’s stock took a hit in 2022 losing two thirds of its value.
Spotify will also be moving around some of its executives and focusing more on efficiency. Spotify CEO Daniel Ek wrote in blog he decided to restructure the organization to control cost, speed up decision making, and drive efficiency.