CYPRUS MIRROR
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Spotify's decision to reduce its workforce by 6 percent

Spotify's decision to reduce its workforce by 6 percent

Spotify, the music streaming and podcast service headquartered in Sweden, announced that it will lay off 6 percent of its employees.

Publish Date: 23/01/23 17:53
reading time: 3 min.
Spotify's decision to reduce its workforce by 6 percent
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Daniel Ek, co-founder and CEO of Spotify, shared with the employees of the company that although they have made great progress in increasing speed in the last few years, they are not as focused on increasing efficiency as they used to be.

Emphasizing that efficiency gains more importance in a challenging economic environment, Ek said that the company decided to restructure its organization in order to provide more efficiency, manage costs and accelerate decision-making.

Ek stated that they also decided to reduce the number of employees in this context, "Today, we are reducing the number of our employees by approximately 6 percent throughout the company. I take full responsibility for the moves that brought us here today." used the phrases.

Pointing out that they achieved their targets in almost every aspect last year, Ek noted that their business continued to perform well in general. Ek added, "However, 2023 marks a new page. I believe that we will be in a better position in the future thanks to these difficult decisions." made its assessment.

LAUNCH NEWS IN THE TECHNOLOGY INDUSTRY ARE COMING IN SUCCESSFUL

While rising inflation and a possible recession are causing concerns in the tech industry, many tech companies, especially in the US, began deciding to lay off thousands of people or cut new hires last year.

Among these companies, the presence of leading companies in the technology sector such as Meta and Amazon was also noteworthy.

Finally, last week, US technology giant Microsoft announced that it would lay off 10 thousand employees, and Alphabet, the parent company of Google, announced that it would lay off 12,000 employees.

According to the data of Layoffs.fyi, which tracks the layoffs in the technology sector, technology companies have laid off more than 190,000 employees since the beginning of 2022.

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