Swedish music streaming platform Spotify has announced another round of job cuts. The company is sacking 200 more employees, which makes up nearly 2% of its workforce. In the latest round of layoffs, Spotify’s podcast division is the only section that has been affected. The company has explained that the latest job cuts are part of a corporate reorganisation.
In a memo to staff (spotted by Hollywood Reporter), Spotify’s head of the podcast division, Sahar Elhabashi, has mentioned that the company is expanding its partnership efforts with “leading podcasters from across the globe.” He also emphasised that the company is proceeding with a tailored approach optimised for each show and creator.
“This fundamental pivot from a more uniform proposition will allow us to support the creator community better. However, doing so requires adapting; over the past few months, our senior leadership team has worked closely with HR to determine the optimal organisation for this next chapter,” Elhabashi added.
As per the report, those impacted by the latest round of layoffs have received emails from HR. The company has also said that it will support these individuals with “generous severance packages, including extended 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 about 600 employees. The company is yet to comment on its latest job cuts.
The music streaming platform crossed 515 million monthly active users (MAUs) in Q1 2023. This was a 22% (year-on-year) growth from 489 MAUs in the last quarter. Q1 2023 has been the company’s strongest first quarter since it went public in 2018.
In a memo to staff (spotted by Hollywood Reporter), Spotify’s head of the podcast division, Sahar Elhabashi, has mentioned that the company is expanding its partnership efforts with “leading podcasters from across the globe.” He also emphasised that the company is proceeding with a tailored approach optimised for each show and creator.
“This fundamental pivot from a more uniform proposition will allow us to support the creator community better. However, doing so requires adapting; over the past few months, our senior leadership team has worked closely with HR to determine the optimal organisation for this next chapter,” Elhabashi added.
As per the report, those impacted by the latest round of layoffs have received emails from HR. The company has also said that it will support these individuals with “generous severance packages, including extended 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 about 600 employees. The company is yet to comment on its latest job cuts.
The music streaming platform crossed 515 million monthly active users (MAUs) in Q1 2023. This was a 22% (year-on-year) growth from 489 MAUs in the last quarter. Q1 2023 has been the company’s strongest first quarter since it went public in 2018.
Spotify’s focus on the Podcast division
In the last three years, Spotify has made huge investments to expand its podcast unit. As per an SEC filing, the company has spent 493 million euros ($526 million), on four different acquisitions in the podcast space, since 2020.
Spotify has also entered into high-profile sponsorship deals with prominent names like Meghan, Duchess of Sussex and online celebrity Joe Rogan.
function loadGtagEvents(isGoogleCampaignActive) { if (!isGoogleCampaignActive) { return; } var id = document.getElementById('toi-plus-google-campaign'); if (id) { return; } (function(f, b, e, v, n, t, s) { t = b.createElement(e); t.async = !0; t.defer = !0; t.src = v; t.id = 'toi-plus-google-campaign'; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s); })(f, b, e, 'https://www.googletagmanager.com/gtag/js?id=AW-877820074', n, t, s); };
window.TimesApps = window.TimesApps || {}; var TimesApps = window.TimesApps; TimesApps.toiPlusEvents = function(config) { var isConfigAvailable = "toiplus_site_settings" in f && "isFBCampaignActive" in f.toiplus_site_settings && "isGoogleCampaignActive" in f.toiplus_site_settings; var isPrimeUser = window.isPrime; if (isConfigAvailable && !isPrimeUser) { loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive); loadFBEvents(f.toiplus_site_settings.isFBCampaignActive); } else { var JarvisUrl="https://jarvis.indiatimes.com/v1/feeds/toi_plus/site_settings/643526e21443833f0c454615?db_env=published"; window.getFromClient(JarvisUrl, function(config){ if (config) { loadGtagEvents(config?.isGoogleCampaignActive); loadFBEvents(config?.isFBCampaignActive); } }) } }; })( window, document, 'script', );
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
