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Spotify to lay off 200 workers in podcast division
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(Reuters) – Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2% of the audio streamer’s worldwide workforce.
(Reuters) – Spotify Technology SA said on Monday it would lay off 200 employees in its podcast division, representing about 2% of the audio streamer’s worldwide workforce.
The company has resorted to aggressive expansion to supplement its earnings from music streaming with other revenue-generating formats such as podcasts, spending more than $1 billion on them and adding popular names such as Joe Rogan to its roster.
“We are expanding our partnership efforts with leading podcasters from across the globe with a tailored approach optimized for each show and creator,” Spotify said.
The company said in January it planned to cut 6% of its staff and would take a related charge of up to $50 million.
(Reporting by Tiyashi Datta in Bengaluru; Editing by Vinay Dwivedi)
A podcast is a digital audio program that is available for streaming or download. It typically consists of a series of episodes focused on a specific topic or theme, allowing listeners to subscribe and receive new content automatically.
Corporate strategy refers to the overall plan and direction of a company, focusing on long-term goals, resource allocation, and competitive advantage. It guides decision-making and helps align the organization's objectives.
Employment opportunities refer to available jobs or positions within an organization or industry. They can vary based on market demand, skills required, and economic conditions, impacting job seekers and employers alike.
A partnership is a business arrangement where two or more individuals or entities collaborate to manage and operate a business. Partners share profits, losses, and responsibilities according to their agreement.
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