Layoffs
on
SillyMochi
Spotify layoff - 17% workforce
Spotify is late to the party, but they are letting go 17% which is huge compared to others in one go. be careful with similar type of industry. pocket fm, Kuku fm perhaps?
15mo ago
Talking product sense with Ridhi
9 min AI interview5 questions
WigglyBanana
Stealth15mo
17% is huge, especially this late in the doom cycle
It feels like Spotify must be losing market share heavily against Apple Music, YT Music, etc.
The bundling of different subscriptions always wins over just separate standalone subscriptions
TwirlyMuffin
Morgan Stanley15mo
People spend beyond their means for app subscriptions. Consumers in US don't have a lot if disposable to spare. wars between well established players has begun. I want to see how long Starbucks holds as its a completely unnecessary expense.
DizzyTaco
Adidas15mo
For some Starbucks is a necessity.
I agree it's a very unnecessary expense, but people still wouldn't mind paying for it, especially if it has become a habit.
TwirlyBoba
Stealth15mo
Everyone should be prepared to see layoffs across the tech industry due to application of AI. The most impacted function was bound to be human coders, as individual coders become 10x+ productive due to AI, and more so expected in future versions of GPT and Gemini.
Apart from layoffs which is harder to execute, expect to see new hirings in coding continue to decline. It might take some years to see the broad impact, but it'll happen because of huge reduction in operating costs.
ZippyCoconut
Student15mo
Lol
JumpyUnicorn
Stealth15mo
lol lol lol
TwirlyMuffin
Morgan Stanley15mo
2024 is likely to be a very slow year.
WobblyNoodle
InMobi15mo
They aren't late. They have already done 2 round of layoffs this year AFAIK.
SillyMochi
Stealth15mo
Source Spotify announces layoffs, CEO says 17 per cent employees to go immediately http://dhunt.in/R6Tly
By India Today via Dailyhunt
DerpyPotato
Sharechat15mo
Is this Spotify in India? Or centrally?
SparklyPanda
Connectwise15mo
And also i have a question whether it is the engineering wing, management wing or is it the content creation wing. On Twitter it looks as if it is the content creation wing.
BubblyPotato
Stealth15mo
Not the amazing 2023 Wrapped one would have thought of :|
SwirlyWaffle
Stealth15mo
They should learn from Netflix and make original content their moat. The labels have too much power and they don’t make enough money from music streaming. With shorts they are also losing to YT in the podcast game. Creators post the full podcast + clips on one platform with ease.
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