Spotify to Layoff 17 Pct. of Employees
![Spotify to Layoff 17 Pct. of Employees](https://business.seatoday.com/images/20231206112137_original_44.webp )
SEAToday.com, Jakarta - Spotify will lay off 17 percent of its global workforce, or around 1,500 workers, to reduce costs and adjust the slow growth, said its CEO Daniel Ek on Monday (12/4).
“Considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives,” Ek wrote in a letter to staff posted to the company’s website. The decision came despite Spotify reporting a 65 million euro profit for Q3 and its steady subscriber growth totaling 226 million.
The changes were aimed at making the company more efficient after a massive hiring and spending spree in 2020–2021. This is the company’s third round of job cuts this year after previously doing so back in January and June.
Recommended Article
State Owned Enterprise
SOEs Ministry Tries Out Four Days in Workweek System
The State-Owned Enterprises (SOEs) Ministry is testing the implementation of a four-day workweek. This was shared on Instagram @lifeatkbumn on Saturday (6/8).
SOE Minister Erick Thohir Assures No Layoffs in Angkasa Pura Merg...
SOE Minister Erick Thohir confirmed that there would be no layoffs in the merger process of PT Angkasa Pura I and Angkasa Pura II.
ESG
5 Simple Steps for Sustainable Lifestyle
Five practical ways to embark on a sustainable lifestyle.
Practical Tips for Household Waste
Sorting household waste is an essential step towards reducing waste generation and promoting environmental sustainability.
Understanding Non-Organic Waste
Non-organic waste refers to discarded materials that are difficult to decompose.
Cash for Trash: Turning Used Plastic Bottles into Rewards
Reverse Vending Machine (RVM) merupakan mesin untuk melayani penukaran botol plastik di fasilitas umum dengan menggunakan sistem poin lewat aplikasi Plasticpay.
Popular Post
Top 10 SOEs on 2024 Fortune Southeast Asia 500, Telkom Indonesia...
A total of 20 state-owned enterprises (SOEs) are listed in the Fortune Southeast Asia 500 2024. Indonesia’s largest telecommunications company Telkom Indonesia (@telkomindonesia) was also included in the top 10 list
Trade Ministry Ready to Support Freeport’s Second Smelter in Gres...
The Trade Ministry is ready to support PT Freeport Indonesia (PTFI) ahead of the operation of its second smelter in Gresik, East Java.
Minister Airlangga: VAT to Increase to 12 Pct. Starting 2025
Minister Airlangga said VAT to Increase to 12 Pct. Starting 2025