Spotify To Layoff 17% of Its Workforce This Year

Spotify Announces Third Round of Layoffs for 2023: What You Need to Know

The music streaming giant, Spotify, has made a dramatic announcement regarding its staffing. The company intends to cut 17% of its workforce, which equates to approximately 1,500 jobs. This move, aimed at reducing costs, marks the third round of layoffs by the company in 2023.

The layoffs come amidst rising capital costs and a challenging economic enviro…