Spotify to announce layoffs as quickly as this week: Bloomberg | Labour Rights

Swedish audio streaming big reportedly planning job cuts after latest layoffs at Apple, Google, Microsoft and Amazon.

Spotify Know-how, the Swedish audio streaming big, is getting ready to announce layoffs as quickly as this week, Bloomberg Information has reported, including to an industry-wide massacre that has value hundreds of jobs at Apple, Google, Microsoft and Amazon.

The variety of job cuts into account on the fashionable streaming service shouldn’t be clear, Bloomberg reported on Monday, citing unnamed people who find themselves acquainted with the matter.

In October, Spotify, which has about 9,800 workers, let go of 38 workers from its podcast studios Gimlet Media and Parcast.

Spotify, which noticed its share value plunge 66 per cent final 12 months, didn’t instantly reply to a request for remark.

Tech companies have minimize hundreds of jobs within the final 12 months as slowing promoting revenues and recession fears immediate reassessments of headcounts that ballooned throughout the COVID-19 pandemic.

In latest weeks, Google guardian Alphabet, Microsoft and Amazon have let go of a mixed 40,000 workers, after Meta and Twitter minimize greater than 18,000 workers mixed late final 12 months.

Smaller tech gamers akin to UK-based cybersecurity agency Sophos and cryptocurrency gamers akin to Coinbase have additionally introduced job cuts affecting as much as 20 % of their workforce.

Greater than 55,000 tech workers worldwide have been laid off throughout 2023 thus far, in keeping with knowledge collected by the Layoffs.fyi web site.