Spotify has announced substantial layoffs not long after a largely positive 2023 Q3 earnings report.
Any positive impacts of Spotify‘s upcoming policy changes are likely to be overshadowed by the company’s latest announcement. The world’s leading music streaming platform has shared that it must cut approximately 17% of its staff.
In a Monday, December 4 memo seen by Music Business Worldwide, Spotify CEO Daniel Ek attributed the decision to the fact that “economic growth has slowed dramatically” and that “capital has become more expensive.” He wrote, “To align Spotify with our future goals and ensure we are…
