Spotify cutting hundreds of jobs in latest round of tech layoffs ...Middle East

The Hill - Technology
Spotify cutting hundreds of jobs in latest round of tech layoffs
source : The Hill ( Middle East ) () 33
Music streaming service Spotify announced Monday that it is slashing hundreds of jobs in the latest round of layoffs in the tech sector. Spotify said it would cut 6 percent of its staff, or about 600 workers based on its last earnings report. “Like many other leaders, I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us. In hindsight, I was too ambitious in investing ahead of our revenue growth,” CEO Daniel Ek said in a statement.  Ek announced the job cuts along with a handful of other changes to the business, including how its products and business teams are orga

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