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Spotify to start handing over pink slips as soon as this week: Report

In October, Spotify laid off 38 people from its Gimlet Media and Parcast podcast studios

Topics
Spotify | layoff | Alphabet

BS Web Team  |  New Delhi 



Photo: Reuters
Photo: Reuters

Following other tech giants like Meta, Amazon and Microsoft, Swedish audio streaming and media services provider is also planning to lay off people and it may start as soon as this week, a report by Bloomberg said. The number of people to be laid off is, however, not specified.

This comes as most of the tech giants have been announcing massive job cuts to lower costs. On Friday, Google's parent said that it would lay off 12,000 employees.

In October, laid off 38 people from its Gimlet Media and Parcast podcast studios. It has a total of 9,800 employees worldwide.

In 2022, the company's shares fell 66 per cent as the investors started turning doubtful if they would receive the returns on massive commitments made to podcasting. In June 2022, the company said that it would turn profitable in the "next one or two years".

Last week, and seven other called on the European Commission to take "swift and decisive action" against over "anti-competitive" and "unfair" practices.

"For years, has imposed unfair restrictions on our businesses. These restrictions hamper our development and harm European consumers. They include the tying of the App Store to Apple's proprietary payment system, with its excessive commissions for app developers; the creation of artificial obstacles that prevent our businesses from freely communicating with our customers; restrictions to developers' access to data of their own users; and capricious changes to terms and conditions," read the letter sent to European Commission.


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First Published: Mon, January 23 2023. 10:13 IST

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