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Headline : Spotifys latest layoffs target its podcast business

Read more from the original article on here at qz.com.




Tags : #spotifys #latest #layoffs #target #podcast #business


No. of Paragraph 23

Spotify is laying off 200 employees in its podcast division. The downsizing, announced on Monday (June 5), affects roughly 2% of the streaming service’s in-person workforce.

Sahar Elhabashi, the head of Spotify’s podcast business, announced the cuts on the company’s website, saying they reflect changes to its relationship with podcasters contracted to make original content.

Elhabashi added that the staffing changes would happen on Monday, with affected employees supported by “generous” severance packages and extended healthcare coverage. Spotify previously announced layoffs in January, citing shifts in spending priorities.

Daniel Ek, Spotify’s founder and CEO, declared in 2019 that podcasts were the future of the company’s revenue stream.

Read more from the original article on here at qz.com.


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