Spotify to join Microsoft, Google, likely to announce mass layoffs soon
Silicon Valley is witnessing a slew of mass layoffs these days. Just last week Microsoft announced that it was slashing 10,000 jobs across sections. Shortly after, Google and Alphabet Inc CEO Sundar Pichai announced that the company was cutting 12,000 jobs. Now, word is that another tech giant is planning to announce mass layoffs.
According to a report by Bloomberg, Spotify is likely to announce mass layoffs as soon as this week. However, the exact number of jobs that the audio-giant is likely to cut isn’t clear yet.
Notably, Spotify laid off nearly 38 staffers in October 2022 from its in-house studios Gimlet and Parcast Podcast studios. The company reportedly shut down 11 original podcasts from its in-house studios, as a part of cost-cutting measure. At the time, less than 5 percent of the company’s staff on original podcasts were either laid off or reassigned to new shows, leaving the company with nearly 9,800 employees as per its third-quarter earnings report.
Now, the company is reportedly planning to slash its head-count further. However, it hasn’t commented on the matter yet.
Spotify had more than 433 million monthly active users (MAUs) in 2022.
Tech companies increased their headcount significantly during the pandemic. However, they have been forced to reduce their workforce in the past couple of months owing to reduced advertising revenue and the uncertain economic conditions. Besides Microsoft and Google, other tech giants including Meta, Twitter and Amazon have also significantly reduced their headcount.
While Amazon has said it is cutting 18,000 jobs, software-maker Salesforce is laying off about 9,000 employees. Similarly, Facebook, last year, announced that it was cutting around 11,000 jobs, which is roughly 11 percent of its total global workforce. Twitter, on the other hand, has been cutting jobs steadily since Elon Musk took over the company. As per reports, the company has cut over 3,700 jobs from its workforce so far.
Similarly, Coinbase has reportedly cut over 2,000 jobs, while DoorDash has cut over 1,200 jobs. Additionally, reports also state that Cisco has cut over 4,000 jobs, while the Snap Inc has cut over 1,200 jobs so far, Crunchbase says.
The post Spotify to join Microsoft, Google, likely to announce mass layoffs soon appeared first on BGR India.
Silicon Valley is witnessing a slew of mass layoffs these days. Just last week Microsoft announced that it was slashing 10,000 jobs across sections. Shortly after, Google and Alphabet Inc CEO Sundar Pichai announced that the company was cutting 12,000 jobs. Now, word is that another tech giant is planning to announce mass layoffs.
According to a report by Bloomberg, Spotify is likely to announce mass layoffs as soon as this week. However, the exact number of jobs that the audio-giant is likely to cut isn’t clear yet.
Notably, Spotify laid off nearly 38 staffers in October 2022 from its in-house studios Gimlet and Parcast Podcast studios. The company reportedly shut down 11 original podcasts from its in-house studios, as a part of cost-cutting measure. At the time, less than 5 percent of the company’s staff on original podcasts were either laid off or reassigned to new shows, leaving the company with nearly 9,800 employees as per its third-quarter earnings report.
Now, the company is reportedly planning to slash its head-count further. However, it hasn’t commented on the matter yet.
Spotify had more than 433 million monthly active users (MAUs) in 2022.
Tech companies increased their headcount significantly during the pandemic. However, they have been forced to reduce their workforce in the past couple of months owing to reduced advertising revenue and the uncertain economic conditions. Besides Microsoft and Google, other tech giants including Meta, Twitter and Amazon have also significantly reduced their headcount.
While Amazon has said it is cutting 18,000 jobs, software-maker Salesforce is laying off about 9,000 employees. Similarly, Facebook, last year, announced that it was cutting around 11,000 jobs, which is roughly 11 percent of its total global workforce. Twitter, on the other hand, has been cutting jobs steadily since Elon Musk took over the company. As per reports, the company has cut over 3,700 jobs from its workforce so far.
Similarly, Coinbase has reportedly cut over 2,000 jobs, while DoorDash has cut over 1,200 jobs. Additionally, reports also state that Cisco has cut over 4,000 jobs, while the Snap Inc has cut over 1,200 jobs so far, Crunchbase says.
The post Spotify to join Microsoft, Google, likely to announce mass layoffs soon appeared first on BGR India.
