BUSINESS

Spotify Set To Cut Workforce

According to press reports, Spotify is set to cut 6% of its workforce.

This comes against the background of tech companies ‘great layoffs.’

Spotify, the Swedish music-streaming company, has argued that the company needs to improve efficiency, thus the need for a cut of about 10,000 employees.

The company’s chief, Daniel Ek, reportedly said his investment goals were initially too ambitious.

Despite its online popularity, Spotify has yet to produce a full-year net profit report.

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Readers Bureau, Contributor

Edited by Jesus Chan

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