Spotify to axe about 1,600 jobs to cut cost ...Middle East

LONDON: Music streaming giant Spotify is to cut almost a fifth of jobs at the business in a move affecting about 1,600 posts, reported German news agency (dpa). Bosses at the technology firm said in a note to staff that it will axe 17 per cent of the workforce in a bid to be more efficient in the face of a growth slowdown.The company employs around 9,300 people globally.Daniel Ek, chief executive of Spotify, said: “Considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to right-size our costs is the best option to accomplish our objectives.“While I am convinced this is the right action for our company, I also understand it

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Last updated : 04 Dec 2023 clock 01:40 PM

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Spotify to axe about 1,600 jobs to cut cost ...Middle East

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