Sahar Elhabashi, vice chairman, Head of Podcast Business, mentioned in a memo that impacted workers would obtain severance packages. File
| Photo Credit: AP
Spotify is cutting about 200 individuals, or 2% of its workforce, because the streaming firm reworks its podcast unit.
Sahar Elhabashi, vice chairman, Head of Podcast Business, mentioned in a memo that impacted workers would obtain severance packages together with prolonged well being care protection and instant entry to outplacement help.
In January Spotify introduced that it was cutting 6% of its world workforce, or about 600 jobs.
Ms. Elhabashi additionally mentioned Monday that the Stockholm firm can be combining podcast networks Parcast and Gimlet into its Spotify Studios operation.
“With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetisation and audience growth for creators, and a valuable, high-margin business for Spotify,” Ms. Elhabashi mentioned.
In afternoon buying and selling, shares rose practically three per cent and briefly set a 52-week buying and selling excessive.