1500 can go from Spotify

In the largest reduction in the company’s history to date, the global workforce will be reduced by approximately 17%, the company’s CEO, Daniel Ek, announced on Monday. This means that approximately 1,500 employees may leave this position.

It was on the company’s website Spotify The news was first announced, and must have subsequently been followed up with calendar invites during the day.

“I understand that this affects many who have contributed to the company in a valuable way. To be frank, many smart, talented, hard-working people will have to leave us. Economic growth has slowed dramatically, and capital has become more expensive,” he writes. Spotify is no exception. “These facts.” Daniel Oak “It’s very painful,” he adds.

He added: “I realize that a reduction of this size comes as a surprise to many, in light of the recent positive results,” referring to the latest quarterly report. In October, the company surprisingly announced profits of 32 million euros for the third quarter. It was much better than the experts expected.

Based on the fact that Spotify has approximately 9,000 employees, the reduction means a total of approximately 1,500 jobs. It is not clear which part of the organization is affected.

Today’s announcement is the third cut in a relatively short time. At the beginning of the year, Spotify laid off 600 employees, and in June the music service laid off 200 employees.

News is updated.

Lars Nylen