Spotify overhired in cheap-capital years and must rightsize costs
In an email sent to staff, Spotify CEO Daniel Ek said that Spotify was taking "substantial action to rightsize our costs," adding that the company took on too many employees over the years 2020 and 2021, when capital was cheap and tech companies could invest significant sums into team expansion.
in an email to staff
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Spotify jumps after saying it will cut 17% of workforce — read the full memo from CEO Daniel EkWhat the article says
Spotify shares closed up more than 7% Monday after the music streaming service said it would cut 17% of its workforce, or about 1,500 jobs. In a note to employees, Ek said Spotify invested too much in ...
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