Spotify layoff - 17% workforce

many companies are shutting down especially the named ones. many are close to getting shut. is there a good resource to track? want to keep it handy for future purposes. :)

- Bengaluru-based Pocket FM has let go of around 200 writers for its US-based shows as part of cost optimization efforts. - The company did not disclose the exact number of layoffs, but sources indicate around 200 contractual writers were impacted. - A spokesperson stated that these changes are typical in the content creation industry and do not reflect on the company's overall health. - Despite the layoffs, Pocket FM is in a strong growth phase with robust revenue signals and is accelerating hiring efforts across regions. - Founded in 2018, Pocket FM raised $103 million in Series D funding in March 2024 and plans to expand into Europe and Latin America. Source: Moneycontrol

5% and 17% respectively. Is this a sign of more to come?

Tech is slowly realizing that Elon was right and a huge amount of overhead is not necessary to grow these companies when you actually manage teams properly.

Spotify being one of the most loved brands has come down to this, and no wonder! We've seen popular brands being poorly rated en masse as part of agenda driven boycott campaigns, but what we see here is more of a genuine disappointment with the product by its users with its recent update. Assuming someone on the Product side decided to rip off all the features of a basic music player to drive growth in the form of paid subscriptions, Growth additionally will also have to handle the poor Playstore ratings as the outcome. What do you think should Spotify start doing from here? Not asking from a user's perspective (I know we all want free music without their annoying ads) but from a business perspective.

170 people impacted Link : https://www.theverge.com/2024/1/11/24034705/discord-layoffs-17-percent-employees

From what I hear from a friend who is aware of the leadership discussions, MPL might be looking to lay off close to 50% of its workforce and shut down most of its other BU’s to consolidate by October. This would include folks even till the SVP levels. This might be one of the first pins to fall with the 28% GST rule kicking in by October. Dark days ahead for online RMG industry in India

Simpl has laid off over 25 per cent of its workforce, which is around 150-200 employees, this week, https://www.timesnownews.com/business-economy/companies/layoffs-intensify-another-indian-startup-announces-job-cuts-says-re-looking-headcount-to-prepare-for-new-economic-reality-details-article-99632767