Spotify laying off 2% of workforce, mostly podcast division

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Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce.

Audio streaming giant is getting rid of 200 workers

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After moving into the podcast space in a big way, Spotify is now laying off staff in that division. (Fabiola Carletti/CBC)

Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2 per cent of the audio streamer’s worldwide workforce.

The company has resorted to aggressive expansion to supplement its earnings from music streaming with other revenue-generating formats such as podcasts, spending more than $1 billion on them and adding popular names such as Joe Rogan to its roster.

“We are expanding our partnership efforts with leading podcasters from across the globe with a tailored approach optimized for each show and creator,” Spotify said.

The company said in January it planned to cut 6% of its staff and would take a related charge of up to $50 million.

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