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Spotify cuts 17% jobs amid rising capital costs

Manish Singh

4 Dec 2023

Tech Crunch

Spotify is eliminating about 1,500 jobs, or about 17% of its workforce, in its third round of layoffs this year as the music streaming giant looks to become “both productive and efficient.”

In a note to employees Monday, Spotify founder and chief executive Daniel Ek said right-sizing the workforce is crucial for the company to face the “challenges ahead.”

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