Spotify to cut 6% of jobs, content head to depart

Published by
Reuters

(Reuters) -Spotify Technology SA said on Monday it plans to cut 6% of its workforce and would take a related charge of up to nearly $50 million, that would add to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a demand downturn after two years of pandemic-powered growth during which it had hired aggressively. That has led firms from Meta Platforms Inc to Microsoft Corp to shed thousands of jobs. “Over the last few months we’ve made a considerable effort to rein in costs, but it simply hasn’t been enough,” Chief Executive Daniel…

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