Music streaming service axes 17% of workforce in latest round of redundancies at big tech companies
Spotify is cutting more than 1,500 jobs as the music streaming service blamed a slowing economy and higher borrowing costs in the latest round of redundancies at big tech companies.
Daniel Ek, Spotify’s billionaire founder and chief executive, said it had decided to cut 17% of its workforce, the third and steepest round of redundancies of 2023, as the company faces pressure from an activist investor.
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