UPDATE 8:30 AM JAN 23: Spotify has announced today (January 23) that it is in the process of slashing over 500 jobs worldwide. The firm confirmed in an SEC filing that it is reducing its employee base by “about 6% across the company”.
In the same filing, Spotify confirmed that Dawn Ostroff, Chief Content & Advertising Business Officer, is to leave the company. “Ms. Ostroff will assume the role of a senior advisor to the Company to help facilitate this transition,” said Spotify. Ostroff joined Spotify in 2018 as Chief Content Officer.
Spotify also announced that, as part of its “reorganization”, Alex Norström, currently Chief Freemium Business Officer, and Gustav Söderström, currently Chief Research & Development Officer, will each take on additional responsibilities and be appointed as co-Presidents of the company.
At the end of Q3 2022, according to an investor presentation, Spotify employed 9,808 full-time employees globally. Six percent of 9,808 is 588.
Earlier Posting...3:00 AM Jan 23...
Spotify Technology SA is planning layoffs as soon as this week, according to people familiar with the plans, joining a slew of technology companies from Amazon.com Inc. to Meta Platforms Inc. in announcing job cuts to lower costs.
Bloomberg reports the number of positions to be eliminated wasn’t specified by the people. Spotify laid off 38 staff from its Gimlet Media and Parcast podcast studios in October. The music streaming giant has about 9,800 employees, according to its third-quarter earnings report.
Tech companies added to their headcounts during the pandemic but were forced to make reductions in response to reduced advertising revenue and a shaky economic outlook. Amazon.com, Meta and Microsoft Corp. were among the biggest companies to announce staff reductions recently, while Google parent Alphabet Inc. said Friday it will cut about 12,000 jobs, more than 6% of its global workforce.
A Spotify spokesperson declined to comment on the upcoming cuts.
The company made a massive commitment to podcasting beginning in 2019. It spent over a billion dollars on acquiring podcast networks, creation software, a hosting service and the rights to popular shows like The Joe Rogan Experience and Armchair Expert.
Tech companies added to their headcounts during the pandemic but were forced to make reductions in response to reduced advertising revenue and a shaky economic outlook. Amazon.com, Meta and Microsoft Corp. were among the biggest companies to announce staff reductions recently, while Google parent Alphabet Inc. said Friday it will cut about 12,000 jobs, more than 6% of its global workforce.
A Spotify spokesperson declined to comment on the upcoming cuts.
The company made a massive commitment to podcasting beginning in 2019. It spent over a billion dollars on acquiring podcast networks, creation software, a hosting service and the rights to popular shows like The Joe Rogan Experience and Armchair Expert.
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