Spotify is chopping about 200 folks, or 2% of its workforce, because the streaming firm reworks its podcast unit.
Sahar Elhabashi, vp, Head of Podcast Enterprise, stated in a memo that impacted workers would obtain severance packages together with prolonged well being care protection and quick entry to outplacement help.
In January Spotify introduced that it was chopping 6% of its world workforce, or about 600 jobs.
Elhabashi additionally stated Monday that the Stockholm firm could be combining podcast networks Parcast and Gimlet into its Spotify Studios operation.
“With these modifications, we are going to speed up into the subsequent chapter for podcasts on Spotify with sturdy discovery and podcast habits for customers, thriving monetization and viewers progress for creators, and a beneficial, high-margin enterprise for Spotify,” Elhabashi stated.
In afternoon buying and selling, shares rose almost 3% and briefly set a 52-week buying and selling excessive.