About 17 percent of employees will feel the effect of the new Spotify job cut that’s already taking place. The announcement of this job cut was announced by Spotify’s CEO, Daniel Ek, in a recent press release. This sad turn of events for some workers is coming in light of recent developments affecting the streaming service provider’s business.
According to Daniel Ek, the coming layoffs are a result of “the challenges ahead.” In a bid to avoid the impact of these coming challenges and cut operational costs, the streaming service provider will lay off a good number of their staff. According to the available reports, this job cut will affect 1500 Spotify staff across its various offices.
This isn’t the first time that Spotify is laying off its staff, as early this year, the company laid off 6 percent of its workforce. Also in May, the streaming service provider went on to lay off another 2 per cent of its staff. All these layoffs have been Spotify’s way of cutting down operational costs to save its business in these challenging times.
So what will become of the staff that will be impacted by this new layoff that the company is pushing for? Already, Spotify has begun to notify staff that will lose their jobs due to this new layoff exercise. The streaming company promises up to five months of severance, along with health care and immigration/career support.
This might help these survive in this challenging economy while looking for jobs elsewhere. This isn’t the only layoff that is coming from a big tech firm in recent months following the need to cut operational costs. Spotify CEO Daniel Ek will provide more details on this new job cut that is going to affect over 17 percent of his company’s staff.