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.
Readers Bureau, Contributor
Edited by Jesus Chan
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