Spotify He plans Dismissal from office As early as this week, in order to reduce costs, he reported BloombergNewsThe music and podcast platform will join companies such as Alphabet (Google), Amazon and Microsoft that have recently cut thousands of jobs.

The report, citing sources with knowledge of the plans, said the number of jobs was not specified.

Spotify did not immediately respond to a request for comment Reuters to make comments. Bloomberg He remembered that The company, with about 9,800 employees, cut 38 jobs in October from its podcast studios Gimlet Media and Parcast, according to its third-quarter earnings release

The Spotify shares down 66% in 2022That has raised doubts among investors about the viability of the podcast business, where the company has invested more than a billion dollars since 2019 in areas such as network acquisition, software development, hosting services and program rights. Popularly known as The Joe Rogan. experience.

In June, managers promised that the sector would be profitable for the next year or two.

Tech companies shed jobs last year as a boom in demand during the pandemic quickly faded, and layoffs have continued this year as companies try to rein in costs against the economic downturn.

In recent weeks, Google parent Alphabet announced it would cut 12,000 jobs, while Microsoft said it would cut 10,000. Amazon’s round of layoffs will affect more than 18,000 positions. Other tech companies, including Facebook parent Meta and Elon Musk’s Twitter, laid off thousands of people late last year.

According to analysts, technology had a heavy weight over-spentWithout expecting the economy to slow down.

Technological companies “were Hiring at an unsustainable pace And the deteriorating macroeconomic environment is now forcing them out of a job,” said Dan Ives of Wedbush Securities. “The midnight of hypergrowth arrived when tech companies spent money like rock stars in the 1980s.“, he added.

For Naveen Sarma of S&P Global Ratings, technology groups must accept “that their growth will not be as fast or that they will not invest as much in new products and services as they thought.”

In this context, advertisers are more reluctant to pay advertising costs, which are a significant part of the billing of companies such as Google, Facebook and Twitter.

About 194,000 tech workers have lost their jobs in the United States since the start of 2022, according to technology site Layoffs.fyi, including thousands affected by Alphabet’s announcement on Friday.

(according to Reuters and AFP)

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