Spotify will cut 6% of employees; ‘Big Techs’ lay off more than 50,000 in three months

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Company shares have accumulated a drop of more than 50% in 2022. Other tech giants like Google, Amazon, Twitter and Facebook have also announced team cuts in recent months. Spotify failed this Tuesday (16) Christian Hartmann / Reuters Spotify Technology announced on Monday (23) plans to lay off 6% of its workforce, or about 600 employees, expanding the group of technology companies and media who have taken similar steps on the grounds of preparing for a recession. The company also said that Vice President of Content and Advertising Dawn Ostroff will be leaving the company as part of the reorganization. Spotify, which had about 9,800 employees as of September 30, said it expects to incur expenses of €35m to €45m related to the layoffs. READ MORE: ‘Big techs’ lay off more than 50 thousand people in 3 months ‘Big techs’ lose almost US$ 4 trillion in market value in 1 year In the first days of this month, Alphabet and Microsoft announced tens of thousands of layoffs. Spotify announced in October that it was slowing hiring for the rest of the year and 2023. The company’s shares have accumulated a drop of more than 50% in 2022. Total laid off in one year reaches 200,000; WATCH: Big techs lay off nearly 200,000 employees in one year

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