Jan 23 (Reuters) - Music streaming firm Spotify Technology SA (SPOT.N) said on Monday it plans to cut 6% of its workforce, or roughly 600 jobs, adding to a glut of layoffs in the technology sector as companies prepare for a possible recession.
The company also said its chief content and advertising business officer, Dawn Ostroff, will depart as part of a broader reorganization.
Spotify, which had about 9,800 full-time employees as of Sept. 30, said it expects to incur about 35 million euros ($38.06 million) to 45 million euros in severance-related charges.
Spotify's move comes at a time when tech companies are facing a demand downturn after two years of pandemic-driven growth during which they had hired aggressively. That has led the likes of Meta Platforms Inc (META.O) to Microsoft Corp (MSFT.O) to shed thousands of jobs.
Sweden-based Spotify has seen advertisers pull back on spending, mirroring a trend seen at Meta and Google parent Alphabet Inc (GOOGL.O), as rapid interest rate hikes and the fallout from the Russia-Ukraine war pressure the economy.