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‘I was too ambitious’: Spotify CEO announces layoffs among 6% of employees as tech job cuts continue

  • January 23, 2023

Spotify has joined a slew of other tech giants in laying off employees. 

Monday’s announcement shared by CEO Daniel Ek said that impacted employees, about 6% across the company, will be notified Monday morning.

The decision to restructure Spotify is an “effort to drive more efficiency, control costs, and speed up decision-making,” Ek said, adding that he takes “full accountability for the moves that got us here today.”

“In hindsight, I was too ambitious in investing ahead of our revenue growth,” Ek said.

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The company also announced that chief content officer Dawn Ostroff was leaving Spotify,

Why companies like Amazon and Meta cut jobs in 2022

Spotify’s layoffs join Google, Amazon, Microsoft and more

Not accounting for Spotify’s staff cuts, more than 200,000 tech industry workers have been laid off since the start of 2022, according to Layoffs.fyi.

Earlier last week, Amazon began laying off thousands of employees. On Jan. 4, Amazon CEO Andy Jassy announced the company planned to cut more than 18,000 employees “between the reductions we made in November and the ones we’re sharing today.”

New layoff notifications for about 8,000 employees began last week – just months after an initial round of 10,000 job cuts.

Also last week, Microsoft announced 10,000 job cuts, or nearly 5% of its workforce. And Facebook parent Meta announced 11,000 job cuts, or 13% of its workforce, in November.

Camille Fine is a trending visual producer on USA TODAY’s NOW team. 

ContributingWyatte Grantham-Philips

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