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Business News/ News / Spotify announces layoff of 200 employees in podcast division

Spotify Technology SA has said on Monday that it has decided to lay off 200 employees in its podcast division. The 200 employees represent about 2 per cent of the audio streamer's worldwide workforce.

In a bid to diversify its revenue streams beyond music streaming, the company has pursued an assertive expansion strategy, investing over $1 billion in podcasts and attracting renowned figures like Joe Rogan to its platform.

"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.

Back in January, Spotify had announced that it was planning to cut down its workforce by 6 per cent.

More details are being updated

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Updated: 05 Jun 2023, 06:32 PM IST
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