Spotify’s price hike looks more likely than ever after CEO’s comments on layoffs

Spotify’s price hike looks more likely than ever after CEO’s comments on layoffs

Music streaming giant Spotify has announced that it will cut 6% of its staff, with around 600 employees in total leaving the company.

Spotify’s move is the latest in a series of mass layoffs at big tech companies, with Microsoft, Amazon, Facebook parent Meta, and Google parent Alphabet all recently announcing job cuts in response to the recession. current economy. Previously, tech companies had been on a hiring spree as spending fueled by the pandemic fueled a greater need for consumer goods and services.

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