Spotify announced Monday it's laying off roughly 200 employees, or about 2% of its-person workforce, as part of an effort to change how the streaming company handles its partnership with "leading podcasters from across the globe."
Spotify's global workforce was 8,359 people in 2020, according to an SEC filing, with 4,332 of those employees in the United States.
The cuts were announced by Sahar Elhabashi, vice president at Spotify, in a memo to employees.
Spotify has spent heavily to expand its podcast unit in the last three years.
Since 2020, Spotify spent 493 million euros ($526 million), on four different acquisitions in the podcast space, according to an SEC filing.
Persons:
Sahar Elhabashi, Elhabashi, Meghan, Duchess of Sussex, Joe Rogan
Organizations:
Spotify, SEC
Locations:
United States