Spotify, the world’s largest music streaming service, plans to announce new layoffs this week, according to a new report by Bloomberg. This breakthrough is reportedly a result of the company wanting to cut costs.
The company has not disclosed how many people it will lay off now. According to its third-quarter earnings report, Spotify currently has approximately 9,800 employees.
Spotify is following the path of many tech companies that have recently laid off or announced that they will lay off their employees. In November last year, Meta announced the layoffs of more than 11,000 employees. One-on-one months, following its acquisition by Elon Musk, Twitter, cut the number of employees in half.What’s more, HP is poised to cut up to 10% of its workforce over the next three years, and Tesla will cut job numbers this quarter after seeing company stocks plummet.
More recently, Microsoft 11,000 employees will be laid off While confirming that, Amazon will lay off approximately 18,000 employees as a module of broader cost reduction measures. Last week, at Google, saying goodbye to approximately 12,000 employeesannounced a major layoff.
Spotify has not yet made a statement on the matter.
