Spotify to Lay Off Workforce This Week – Bloomberg News

Jan 22 (Reuters) – Spotify Technology (SPOT.N) is planning layoffs as early as this week to cut costs, Bloomberg News reported on Sunday, joining Alphabet Inc (GOOGL.O), Inc (AMZN.O), Microsoft Corp (MSFT.O) which recently cut thousands of jobs.

The report, which cites sources, says the number of jobs cut was not specified.

Spotify did not immediately respond to a request for comment from Reuters.

Tech companies lost jobs last year as the boom in demand during the pandemic quickly waned, and layoffs have continued this year as companies seek to control costs to ride out the economic downturn.

In recent weeks, Alphabet, Google’s parent company, said it would cut 12,000 jobs, while Microsoft said it would cut 10,000. Amazon’s layoff cycle will impact more than 18,000 roles.

Other tech companies such as Facebook’s parent company Meta and Elon Musk’s Twitter laid off thousands of people late last year.

Reporting by Rahat Sandhu in Bangalore; Editing by Eileen Soreng

Our standards: The Thomson Reuters Trust Principles.


Leave a Comment

Your email address will not be published. Required fields are marked *