According to Ukrinform, this situation was reported by the BBC.

Chief executive Daniel Eck said he had taken the “difficult” decision in an environment where economic growth had “slowed sharply”.

“I realize this will impact many people who have made valuable contributions. However, given the difference between our financial target and our current operating costs, I have decided that significant steps to optimize our costs are the best option to achieve our goals.” said. Eck.

He added that given recent positive results, the announced layoffs “will seem surprisingly large” to many people. The company is also evaluating the possibility of smaller reductions in 2024 and 2025.

“Despite our cost reduction efforts last year, our cost structure is still too large to meet our targets,” Eck said.

Spotify employs approximately 9,000 people, and according to Eck, “significant measures to optimize our costs” are required for the company to achieve its goals.

The company had previously announced a profit of 65 million euros for the three summer months, thanks to rising prices and an increase in the number of subscribers.

According to Ukrinform, Lenovo Group, the world’s largest computer manufacturer by production volume, announced a decrease of approximately 5% in the total number of personnel in the January-March 2023 period.