Washington, June 5: Spotify is cutting about 200 people, or 2 per cent of its workforce, as the streaming company reworks its podcast unit. Sahar Elhabashi, vice president, Head of Podcast Business, said in a memo that impacted employees would receive severance packages including extended health care coverage and immediate access to outplacement support. AI Responsible for Layoffs? About 4,000 Employees in US Lost Their Jobs in May 2023 Due to Artificial Intelligence, Says Report.

In January Spotify announced that it was cutting 6 per cent of its global workforce, or about 600 jobs. Elhabashi also said Monday that the Stockholm company would be combining podcast networks Parcast and Gimlet into its Spotify Studios operation. ZoomInfo Layoffs: US-Based Marketing Tech Firm To Lay Off 3% of Its Workforce Globally.

“With these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetisation and audience growth for creators, and a valuable, high-margin business for Spotify,” Elhabashi said. In afternoon trading, shares rose nearly 3 per cent and briefly set a 52-week trading high.

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