Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce.
Audio streaming giant is getting rid of 200 workers
Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce.
The company has resorted to aggressive expansion to supplement its earnings from music streaming with other revenue-generating formats such as podcasts, spending more than $1 billion on them and adding popular names such as Joe Rogan to its roster.
“We are expanding our partnership efforts with leading podcasters from across the globe with a tailored approach optimized for each show and creator,” Spotify said.
The company said in January it planned to cut 6% of its staff and would take a related charge of up to $50 million.
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