Spotify was the latest big tech company to have mass layoffs, cutting around 10000 positions today (January 23, 2023).
Last weak, Microsoft and Google (Alphabet) also had massive layoffs.
When asked, Dainiel Ek, CEO of Spotify said:
"I take full accountability for the moves that got us here today," Mr Ek added.
Whether Mr. Ek is taking accountability beyond a simple statement remains to be seen.
Cost
Spotify is estimating that layoff and severance package costs will be around 45 million USD.
Future
The Swedish company is listed on the New York Stock Exchange and has invested heavily since its launch with a desire to fuel growth with expansions into new markets, along with plans to offer exclusive content such as podcasts.
Technomancer is a science and tech enthusiast who enjoys writing about software and AI and other tech topics.
