Spotify cutting about 2% of its workforce, roughly 200 workers
FILE- This March 20, 2018 file photo shows the Spotify app on an iPad in Baltimore. Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit. Sahar Elhabashi, vice president, Head of Podcast Business, said in a memo that impacted employees would receive severance packages including extended health care coverage and immediate access to outplacement support. Credit: AP/Patrick Semansky
Spotify is cutting about 200 people, or 2% of its workforce, as the streaming company reworks its podcast unit.
Sahar Elhabashi, vice president, Head of Podcast Business, said in a memo that impacted employees would receive severance packages including extended health care coverage and immediate access to outplacement support.
In January Spotify announced that it was cutting 6% of its global workforce, or about 600 jobs.
Elhabashi also said Monday that the Stockholm company would be combining podcast networks Parcast and Gimlet into its Spotify Studios operation.
“With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetization and audience growth for creators, and a valuable, high-margin business for Spotify,” Elhabashi said.
In afternoon trading, shares rose nearly 3% and briefly set a 52-week trading high.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
