Audio streaming giant Spotify is laying off 2% of workers of its podcast division
After layoffs have been announced across the tech world, Spotify Technology SA (SPOT.N) said on Monday it would cut 200 jobs from its podcast division. The mass-redundancies come after Spotify has restructured the business.
The decision affects around 2% of the company’s workforce, putting it on a level playing field with companies like Meta who have also cut jobs for the second time in recent months.
In recent years, Spotify had invested heavily in its podcast business. The aim was to attract more advertisers through higher engagement levels. However, growth was slower than expected – and with operating costs at an all time high, businesses were cutting back on ad budgets.
More from News
- AI Bosses Told The G7 Not To Trust Them – Why Is Their Cry For Help So Terrifying?
- The Gulf Built Its AI Empire During Conflict, How Could Peace Change Things?
- Jeff Bezos Says Blue Origin Isn’t Trying To “Reinvent Space Travel”; Rather, They’re “Going To Make It Cost Effective”
- Why Is The 2026 World Cup Turning Stadiums Into Mass Surveillance Hubs?
- Elon Musk Is A Trillionaire, But What Does That Actually Mean?
- How Anthropic’s Mythos 5 Became A US-Canada-EU Diplomatic Crisis
- GOODFOLIO Becomes SEPANTA, Signalling A New Era of AI Innovation And Business Growth
- Musk Chose Nasdaq Over The NYSE – What Does That Mean For Future IPOs?
In response, Spotify cut 6% of its workforce earlier this year.
Sahar Elhabashi, who heads the podcast business, said on Monday that the company has “made the difficult but necessary decision to make a strategic realignment.”
Spotify also said it will merge its Parcast and Gimlet studios into a single Spotify Studios division, which will produce Spotify originals.
The company would now take a more tailored approach for each show and creator, compared with the uniform approach followed previously, Elhabashi said.
