Spotify to axe 1,500 workers to save costs

They could easily pay those workers by terminating the contract with Rogan

Just as they announced their profitable quarter.

This isn't to "Save costs". It's to further boost profits at any measure, which is what publically traded companies want. Happy investors.

Anyone knows why Spotify needed 9000 employees in the first place?

Oh, hey, look at that. I just axed Spotify to save myself money. Fuck Spotify.

How do they have this many employees and an absolutely trash android app?

If the workers of Spotify had been unionized then the CEO Daniel Ek wouldn't have been able to fire 1500 people by sending them an email.

The first quarter they are profitable ever: AXE THEM!

Didn't they also slash how much they pay artists? What exactly is the point of Spotify?

Yes, fire everybody. That's surely a fantastic long term plan to make that all-important line go up.

Maybe they could try not paying a fascist $200 million for his podcast. That would save some money right there.

Fuck Spotify and fuck Joe Rogan.

Because of interest rates hikes, companies like Spotify have to focuses on more trivial matters like being profitable. 17% lay off seems like a lot. I wonder if they will go bankrupt?

Permanently Deleted

Hopefully this includes the guy that changed it so there's always some Taylor Swift song instead of what I was actually listening to last when I open the app.

Fire the payola people that make it so even if you hit shuffle, you'll only hear the same 10% of your playlist over and over again with the same artist 3 songs in a row.

They say that they can't release their randomizer algorithm to protect trade secrets. Which is exactly what a company engaging in payola would say.

And then Spotify will be €50 a month because costs.

This is all your fault, you goddamn white noise listeners!

Unfortunate to see.

I've been in tech for a while, I can't tell how much of this is due to over hiring and over paying for work during that crazy time 2 years ago. I had lots of friends bounce to hire paying jobs and a lot of folks were just trying to gobble up talent. A lot of those places doing that seemed to be having big lay offs in the years following. I think there was a lot of optimism back the about the market, and it seems like course correction and pessimistic outlooks at play.

This is the best summary I could come up with:

Swedish music-streaming giant Spotify has announced it is cutting 17% of its workforce, about 1,500 jobs, as the company seeks to clamp down on costs.

Spotify employs about 9,000 people, and Mr Ek said "substantial action to rightsize our costs" was needed for the company to meet its objectives.

Mr Ek said that given the recent "positive" results, the job cuts being announced "will feel surprisingly large" for many people.

He said Spotify had considered making smaller reductions during 2024 and 2025, but decided that more drastic action was needed to improve the company's finances.

Since it launched, Spotify has spent a lot of money on growing the business, and in securing exclusive content such as podcasts created by the likes of Michelle and Barack Obama as well as the Duke and Duchess of Sussex.

Commenting on podcast content, Mr Ek told the BBC in September: "The truth of the matter is some of it has worked, some of it hasn't."

The original article contains 302 words, the summary contains 161 words. Saved 47%. I'm a bot and I'm open source!

Despite being a shit company, them and apple music, maybe youtube music are the only top alternatives. Yes I can easily pirate and have downloaded spotify music using Spotdl but I also listen to podcasts on there and I don't want it to clutter up my newpipe or libretube feed.

Jack Stratton still has the best take on Spotify

Great 😃👍