Spotify’s Share Price Jumps 7.5% On Layoff News ...Middle East

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Spotify’s Share Price Jumps 7.5% On Layoff News
Spotify shares jumped 7.5% on Monday (Dec. 4) following news the company will lay off 17% of its global workforce. CEO Daniel Ek called the layoffs a “crucial step” in a wider effort to be “relentlessly resourceful.” The layoffs amount to roughly 1,500 staffers based on the company’s recent disclosure of having 9,241 full-time employees.  Related Spotify Slashes Global Workforce By 17% in Latest Cost-Cutting Effort 12/04/2023

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