After major tech companies resorted to mass layoffs this season, Spotify is the next in line. According to recent reports, the music and podcast platform may begin laying off employees as soon as this week.
According to a Bloomberg report, Spotify layoffs may affect hundreds of employees, though the exact number is unknown. It has also been reported that in October 2022, Spotify fired approximately 38 employees from its Gimlet Media and Parcast Podcast studios.
It should be noted that around the same time, other large corporations began laying off employees.
Spotify, like many other companies, particularly those whose names appeared on the list of tech layoffs, has reportedly attributed these mass layoffs to the economic downturn. Because costs are rising in many areas, the company is hoping to reduce them by laying off employees.
The report adds that in September 2022, Spotify layoffs impacted the editorial employees. At present, as per the company’s Q3 reports, the company has close to 9,800 employees.
Thousands of employees worldwide have been affected by the season of mass layoffs. According to Layoffs. FYI, a total of 173 tech companies laid off 55,970 employees in 2023 at the time of writing this story.
According to experts, this number is expected to rise this year as many companies attempt to manage unfavorable global headwinds.