Spotify: about to lay off 6% of workforce
(CercleFinance.com) - Spotify announced on Monday that it plans to reduce its workforce by 6% as part of a restructuring plan intended to deal with an economic context that is deemed more difficult.
In a letter sent to the audio streaming giant, Daniel Ek, the Swedish group's managing director, justifies his decision by the need to better control costs, with operating expenses having increased twice as fast as revenues last year.
At the end of 2021, Spotify had 6,617 employees
Listed on the New York Stock Exchange, Spotify shares were still up over 4% in pre-market trading on Monday following these announcements.
Copyright (c) 2023 CercleFinance.com. All rights reserved.