Spotify recently stated that it was going to be cutting 1500, approximately 17%, staff from its global workforce. These actions have been taken due to Spotify’s immense spending in an attempt to diversify itself into other fields such as podcasting. Spotify had a net loss of €462 million in the 9 months leading up to September. This is the third set of layoffs that Spotify has done in an attempt to regain its profitability. The first round was in January when they cut about 6% of their staff, and then another 2% in June, and now another 17% cut of global staff to follow.
