The moves, which will impact roughly 600 employees, are meant to help Spotify with 'control costs, and speed up decision-making.'
it is laying off 6% of its staff as a part of a broader organizational restructuring and cost-cutting measures.: The moves, which will impact roughly 600 employees, are meant to help the company to "control costs, and speed up decision-making." In a challenging economic environment, "efficiency takes on greater importance," Spotify's CEO Daniel Ek said in memo.
"That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap.": With the cuts, Ek also announced a new executive restructuring that he argues would allow the company to move faster and would give Ek more time to focus on Spotify's future.
Ek named Gustav Söderström, the company's product and tech lead, as chief product officer, and promoted Alex Norström, who previously oversaw Spotify's free ad-supported business model, to chief business officer. Norström will oversee both content and ads.
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