Swedish music streaming platform Spotify has announced another round of job cuts. The company is laying off 200 more employees, which is about 2% of its workforce. In the latest round of layoffs, Spotify’s podcast division is the only segment affected. The company has clarified that the latest job cuts are part of a corporate restructuring.
In a memo to employees (seen by The Hollywood Reporter), the head of Spotify’s podcast division, sahr al-habashi, noted that the company is expanding its partnership efforts with “leading podcasters around the world”. He also emphasized that the company is moving forward with a customized approach, customized for each show and producer.
“This fundamental pivot from a more uniform proposition will allow us to better support the maker community. However, doing so requires adaptation; over the past few months, our senior leadership team has worked closely with HR to ensure this to determine the optimal organization for the next chapter,” Allahbashi said.
As per the report, those affected by the latest round of layoffs have received emails from HR. The company has also said it will support these individuals “including generous severance packages, expanded healthcare coverage and immediate access to outplacement support”.
spotify job cuts in January 2023
In January, Spotify laid off 6% of its global workforce, which is around 600 employees. The company has yet to comment on its latest job cuts.
The music streaming platform crossed 515 million monthly active users (MAU) in Q1 2023. This was an increase of 22% (year-over-year) from 489 MAUs in the previous quarter. Q1 2023 The company has had its strongest first quarter since going public in 2018.
In a memo to employees (seen by The Hollywood Reporter), the head of Spotify’s podcast division, sahr al-habashi, noted that the company is expanding its partnership efforts with “leading podcasters around the world”. He also emphasized that the company is moving forward with a customized approach, customized for each show and producer.
“This fundamental pivot from a more uniform proposition will allow us to better support the maker community. However, doing so requires adaptation; over the past few months, our senior leadership team has worked closely with HR to ensure this to determine the optimal organization for the next chapter,” Allahbashi said.
As per the report, those affected by the latest round of layoffs have received emails from HR. The company has also said it will support these individuals “including generous severance packages, expanded healthcare coverage and immediate access to outplacement support”.
spotify job cuts in January 2023
In January, Spotify laid off 6% of its global workforce, which is around 600 employees. The company has yet to comment on its latest job cuts.
The music streaming platform crossed 515 million monthly active users (MAU) in Q1 2023. This was an increase of 22% (year-over-year) from 489 MAUs in the previous quarter. Q1 2023 The company has had its strongest first quarter since going public in 2018.
Spotify focuses on podcast division
Over the past three years, Spotify has invested heavily in expanding its podcast unit. according to a seconds According to the filing, the company has spent 493 million euros ($526 million) on four separate acquisitions in the podcast space since 2020.
Spotify has also entered into high-profile sponsorship deals with prominent names such as Meghan, the Duchess of Sussex and online celebrities Joe Rogan,