Spotify Technology SA is laying off 6% of its employees as part of broader cost-cutting measures after the streaming company went on a spending spree

Spotify to Cut 6% of Workforce in Latest Tech Layoffs

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2023-01-23 14:00:02

Spotify Technology SA is laying off 6% of its employees as part of broader cost-cutting measures after the streaming company went on a spending spree during the pandemic.

The company’s move is the latest in a wave of technology layoffs, as the industry recalibrates after growing rapidly at the start of the pandemic. Tech companies big and small are grappling with economic turbulence after swelling their head counts over the past few years. Now, many are cutting some of their recent additions and abandoning long-shot projects.

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