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Spotify Lays Off 5% of Staff Across The Ringer and Podcast Studios Business

The cuts, made internally Tuesday, represent a 5% reduction in headcount across The Ringer and Spotify Studios. The roles that were eliminated will be reallocated to support Spotify's video podcast push, a source familiar with the company said. Spotify is not canceling any podcast shows with the staff cuts.

Spotify has announced layoffs affecting 5% of its staff across The Ringer and its podcast studios business, as part of a broader cost-cutting initiative. This move follows the company's earlier decision to reduce its workforce by 6% in January, reflecting ongoing efforts to streamline operations and improve financial performance. The layoffs are part of Spotify's strategy to adapt to the competitive and rapidly evolving music and podcast streaming market.

Read the Full Variety Article at:
https://www.msn.com/en-us/music/news/spotify-lays-off-5-of-staff-across-the-ringer-and-podcast-studios-business/ar-AA1GazRH