Spotify lays off 200 employees, or about 2% of its workforce

Spotify announced Monday it's laying disconnected astir 200 employees, oregon astir 2% of its-person workforce, arsenic portion of an effort to alteration however the institution handles its concern with "leading podcasters from crossed the globe."

Spotify's planetary workforce was 8,359 radical successful 2020, according to an SEC filing, with 4,332 of those employees successful the United States.

The cuts were announced by Spotify vice president Sahar Elhabashi successful a memo to employees. Those impacted by the cuts volition beryllium provided with "generous severance packages," Elhabashi said.

Elhabashi said that the "fundamental pivot from a much azygous proposition volition let america to enactment the creator assemblage better."

Spotify has spent heavy to grow its podcast portion successful the past 3 years. Since 2020, Spotify spent 493 cardinal euros, oregon astir $526 cardinal dollars, connected 4 antithetic acquisitions successful the podcast space, according to an SEC filing.

Spotify besides entered into high-profile sponsorship deals with salient names similar Meghan, the Duchess of Sussex, and Joe Rogan, the online personality.

Spotify did not instantly instrumentality a petition for comment.