Spotify announces the cut of 17% of its employees: approximately 1,500 people

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By John

The music and podcast streaming platform Spotify announces one staff reduction of “around 17%”, or around 1,500 people, in order to reduce costs in a context of slowing economic growth. In the third quarter, the group achieved an operating profit thanks to a 26% increase in its active users, and a net profit of 65 million euros.

“I am aware that for many a reduction of this magnitude may seem surprising, given the recent positive earnings report and our performance,” chief executive Daniel Ek wrote in a letter to employees seen by AFP.
The layoffs should allow us to “align Spotify with our future goals and (to) ensure that we are adequately sized for the challenges ahead,” the manager explained in the letter.

What is Spotify?

In the digital age, Spotify emerges as a giant in the industry music streaming. Launched in Sweden in 2006, this service has radically transformed the way we consume music, making millions of songs and podcasts available just a click away.

Spotify’s strength lies in its intuitive interface and in innovative functions, such as customizing playlists and discovering new melodies through sophisticated recommendation algorithms.

With your subscription Spotify Premium, users can experience superior audio quality and an ad-free experience. Spotify is not only a leader indigital entertainmentbut it has also profoundly influenced the methods of music distribution and promotion, adapting perfectly to the needs of the digital age.