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?
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
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.
Randomization
Stealth
10 months ago
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.
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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.
NiceWork
Student
10 months ago
Lol
punydrama
Stealth
10 months ago
lol lol lol
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notsure
Stealth
10 months ago
17% getting their Spotify Wrapped email
BadMaiden42
Student
9 months ago
😭😭😭😭 that's a violation bruh
Brutallyhonest
Stealth
10 months ago
Source Spotify announces layoffs, CEO says 17 per cent employees to go immediately
http://dhunt.in/R6Tly
By India Today via Dailyhunt
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.
DixonButts
Stealth
10 months ago
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.
hehehe
Stealth
10 months ago
This is real SpotifyWrap
That's why I use yt music premium.
Awesome recommendation engine and customisation available
Rgalatos
Stealth
9 months ago
Markets are savage! Spotify stock up by $17.90 🤯
All BS, so many managers can be removed instead of simply so called layoffs
Flysky
Stealth
10 months ago
Revenues must have been dropping. It usually takes time for impact if drop in discretionary spending during economic slowdown. Explains why Spotify is late to the party.
Demon
Stealth
9 months ago
I have a feeling Spotify is not doing well. Why would they wait so much before layoff which were mostly done because people used their devices much more during COVID lockdown. I think they had a good warchest at end of lockdowns, but spent it on bad initiatives.
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