No firm’s resistant to the present state of the worldwide economic system. Tons of firms have been eliminating staff, and Spotify is not any completely different. Based mostly on a brand new report, Spotify simply laid off 200 staff from its podcast division.
Job cuts throughout the tech business are, sadly, frequent these days. Firms like T-Cellular, Amazon, Google, Microsoft, and Meta have been slicing a whole bunch and even hundreds of their staff in an effort to minimize prices. Even earlier this yr, Spotify needed to minimize about 6% of its Workforce.
Spotify laid off 200 individuals from its podcast division
This information comes from Selection. Over 2021 and 2022, Spotify has been making a huge push into the podcast Market. It turned a significant participant out there, however this appears to be the place the corporate is slicing free some weight. In a memo to its staff, Spotify gave the information that its podcast division shall be shedding 200 staff.
“… We now have made the tough however crucial choice to make a strategic realignment of our group and scale back our world podcast vertical and different capabilities by roughly 200 individuals”, stated Sahar Elhabashi, Spotify’s VP, head of podcast enterprise within the memo.
Principally, in line with the memo, Spotify is making a notable pivot with its podcasting efforts. The memo didn’t elaborate on what precisely its planning on doing, however will probably be working with “main podcasters from throughout the globe”. Thus, this variation has the unlucky aspect impact of layoffs.
This subsequent spherical of layoffs simply removed about 2% of the corporate’s total workforce, which isn’t notably huge relative to the corporate’s dimension. Nevertheless, the entire job cuts had been within the podcast division. We’re undecided how many individuals are working in that division, however 200 individuals is nothing to sneeze at.
This doesn’t look good for the corporate’s podcasting efforts, seeing as over the past layoff session, the corporate misplaced Daybreak Ostroff, the chief content material in promoting enterprise officer and head of the podcast division. Additionally, the corporate dropped 11 podcasts late final yr. Since Spotify is slicing so many individuals from its podcast division, one can solely marvel how profitable the corporate’s podcast enterprise is