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# Spotify lays off over 1,500 workers as expenses rise
- URL: https://www.techloy.com/spotify-fires-over-1-500-workers-as-expenses-rise/
- Published: 2023-12-04T17:00:46.000Z
- Updated: 2023-12-04T17:05:25.000Z
- Author: Wisdom Okogho
- Tags: / News, Spotify, Tech Layoffs

Spotify has stated that it will be cutting off roughly 17% of its personnel, affecting over 1,500 individuals, to cut costs and streamline operations. The music-streaming company made this decision amid a sluggish economy and growing capital costs.

Spotify CEO Daniel Ek made the [announcement](https://newsroom.spotify.com/2023-12-04/an-update-on-december-2023-organizational-changes/) to all Spotify employees, marking the company's third layoff of 2023.

In January, the first round of workforce reductions occurred, resulting in t[he termination of about 600 employees](https://www.techloy.com/spotify-announces-layoffs-impacting-6-percent-of-global-workforce/). Subsequently, in June, an additional round of layoffs transpired, leading to the dismissal of [about 200 staff members](https://www.techloy.com/spotify-cuts-200-at-its-podcast-unit/).

The news of this layoff will undoubtedly startle many of the affected employees, as it comes as a stark contrast to the positive third-quarter earnings announced in October 2023.

[Spotify is scaling back its podcast unit with a 2% workforce reductionPopular music streaming platform, Spotify, is set to lay off 200 employees in its podcast unit, which accounts for a 2% reduction in its workforce – a few months after announcing a restructuring that resulted in nearly 600 job cuts globally. In terms of user growth, Spotify reported 489 million mon…![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/size/w256h256/2023/07/techloy-avatar-1.png)TechloyEmmanuel Oyedeji![](https://images.unsplash.com/photo-1611339555312-e607c8352fd7?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=M3wxMTc3M3wwfDF8c2VhcmNofDN8fFNwb3RpZnl8ZW58MHx8fHwxNjg2MDcxNTY1fDA&ixlib=rb-4.0.3&q=80&w=2000content/images/size/w1200)](https://www.techloy.com/spotify-cuts-200-at-its-podcast-unit/)