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Spotify Announces More Layoffs

Discussion in 'Article Discussion' started by Melody Bot, Dec 7, 2023.

  1. Melody Bot Dec 7, 2023
    Melody Bot

    Your friendly little forum bot. Staff Member

    This article has been imported from chorus.fm for discussion. All of the forum rules still apply.

    Spotify has announced they are laying off 1,500 people:

    This brings me to a decision that will mean a significant step change for our company. To align Spotify with our future goals and ensure we are right-sized for the challenges ahead, I have made the difficult decision to reduce our total headcount by approximately 17% across the company. I recognize this will impact a number of individuals who have made valuable contributions. To be blunt, many smart, talented and hard-working people will be departing us.

    Meanwhile, the stock spiked on the news so the CFO cashed in.

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  2. kyleadams Dec 7, 2023
    kyleadams

    formerly thisisalchemy Prestigious

    I had no idea that Spotify had that many employees to begin with. Crazy.
     
    NSPaint, Raku and paythetab like this.
  3. paythetab Dec 7, 2023
    paythetab

    Chorus.FM Album Reviewer (Adam Grundy) Supporter

    Yeah, I didn't realize also. Really sad that they're slashing such a good chunk of their workforce.
     
    Raku likes this.
  4. Brent Dec 7, 2023
    Brent

    Trusted Prestigious

    Watch that Spotify doc The Playlist on Netflix if you have a chance.
     
    paythetab likes this.
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  6. Phil507 Dec 8, 2023
    Phil507

    Resident NYC snob Supporter

    I work in the ad industry. Spotify's ad products aren't all that great so I think their ad revenue has probably not hit the projected targets. They also, apparently, over-hired which is driving these layoffs (have heard they are granting decent severance packages of 4-5 months which is nice in this day in age). Nonetheless, still shitty news.