Last Updated on January 26, 2023 by Bitfinsider
According to CEO Daniel Ek’s message to staff, Spotify is cutting off 6% of its workforce as part of a company-wide restructure. The exact number of job losses was not disclosed, although the company employs approximately 9,800 workers, according to its most recent earnings report. Dawn Ostroff, chief content officer, will also stepping down as part of the changes, according to Ek.
Ek, like Google’s Sundar Pichai, stated that he accepts “full blame for the decisions that brought us here today.” Employees will get an average of 5 months of severance pay, as well as accrued and unused vacation time, healthcare during the layoff period, immigration support, and career support. The bulk of Spotify’s personnel are based in the United States, followed by Sweden and the United Kingdom.
According to Ek, the company is “fundamentally changing how we operate at the top” by outsourcing engineering and product work to new chief product and chief business officers. “These adjustments will allow me to return to the portion of my job where I excel—spending more time working on Spotify’s future.”
Spotify, like other tech companies, has grown dramatically in recent years, particularly in the podcasting space. It has spent more than a billion dollars on podcast networks, hosting services, and productions such as The Joe Rogan Experience. Dawn Ostroff, chief content officer, led most of that work, increasing podcast material by 40 times, according to Ek. However, as part of the reforms, she will be departing the company.
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