Dawn Ostroff leaves Spotify as streaming platform slashes over 500 jobs
1 min read . Updated: 23 Jan 2023, 06:47 PM IST
Premium- Dawn Ostroff joined Spotify in 2018 as the chief content officer. Dawn Ostroff left Spotify as it announced job cuts
Dawn Ostroff, the chief content officer at Spotify, has decided to leave the company as the streaming platform slashed its employee base by “about 6 per cent across the company". Dawn Ostroff joined Spotify in 2018 as the chief content officer.
In an official statement announcing the job cuts and Dawn Ostroff’s exit, Spotify said, “Dawn Ostroff has decided to depart Spotify. Dawn has made a tremendous mark not only on Spotify, but on the audio industry overall. Because of her efforts, Spotify grew our podcast content by 40x, drove significant innovation in the medium and became the leading music and podcast service in many markets."
Wishing her success, Spotify said, “In the near term, Dawn will assume the role of senior advisor to help facilitate this transition. Alex [Chief Business Officer] will take on the responsibility for the content, advertising and licensing work going forward…"
Spotify also announced that it was cutting about six per cent of the workforce to bring the company’s costs “more in line" and to become “more efficient".
“And while I believe this decision is right for Spotify, I understand that with our historic focus on growth, many of you will view this as a shift in our culture. But as we evolve and grow as a business, so must our way of working while still staying true to our core values," the streaming platform said.
Why Spotify announced job cuts?
Explaining why the company decided to slash the jobs, Spotify said, “The growth of Spotify’s OPEX outpaced our revenue growth by 2X. That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap."
“As you are well aware, over the last few months we’ve made a considerable effort to rein-in costs, but it simply hasn’t been enough."
