As tech layoffs continue to mount, Spotify is reportedly set to cut its staff as soon as this week. According to Bloomberg, Hollywood Reporter, CNBC, and The Wall Street Journal, the streaming giant is expected to trim 6% of its workforce, with its content head departing as well.
The layoffs come as the tech industry continues to grapple with the economic fallout of the COVID-19 pandemic. Spotify is the latest in a string of companies to announce job cuts, following companies like Twitter and Microsoft.
Five Things You Need to Know to Start Your Day, according to Bloomberg, include the latest news about Spotify’s layoffs. The streaming giant is reportedly set to cut 6% of its staff, with its content head departing as well.
The news of Spotify’s layoffs has been met with shock and sadness by many in the tech industry, as the economic impact of the pandemic continues to be felt. It remains to be seen how the company will adjust to its new reality in the coming months.
For more coverage on Spotify’s layoffs, view full coverage on USNN.