Monday, 6 February, 2023

Spotify to cut 6% of workforce, some 600 employees: CEO

Swedish music streaming giant Spotify said Monday that it was cutting six percent of its roughly 10,000 employees, the latest among a slew of cost-cutting announcements by technology companies.

"In hindsight, I was too ambitious in investing ahead of our revenue growth. And for this reason, today, we are reducing our employee base by about six percent across the company," Spotify CEO Daniel Ek said on Spotify's official blog.