Spotify layoffs are the next in line after major tech companies resorted to mass layoffs this season. As per latest reports, the music and podcast platform may begin axing jobs as soon as this week.
According to a report in Bloomberg, Spotify layoffs may impact hundreds of employees, however, the exact number is not yet known. It has also been reported that Spotify fired around 38 employees from its Gimlet Media and Parcast Podcast studio in October, 2022. It must be noted that around that time, some other big companies too, started laying off employees.
Just like many other firms, especially the ones whose names made it to the list of tech layoffs, even Spotify has reportedly reasoned these mass layoffs to the economic downturn. Since costs are rising in multiple areas, the company is hoping to cut back on them and hence, laying off employees.
The report adds that in September 2022, Spotify layoffs impacted the editorial employees. At present, as per the company’s Q3 reports, the company has close to 9,800 employees.
The season of mass layoffs has impacted thousands of employees globally. At the time of writing this story, as per Layoffs.fyi, in 2023, a total of 173 tech companies have laid off 55,970 employees. As per experts, this number is expected to increase this year as many companies try to manage the not-so-favourable global headwinds.