‘Alas, more and more companies are laying off these workers.’
Economic uncertainties that forced spending cuts in some technology sectors were also biased towards Spotify Technology which reduced its hiring by 25%.
Spotify’s General Chief Executive Officer (CEO), Daniel Ek, each employee has received an email stating that the hiring program will continue but at a slower pace for the next few quarters.
Adding the audio services giant, which employs 8,230 people so far, the company will be ‘more prudent’ in spending as well as selecting its employees for now.
In addition, Chief Financial Officer (CFO) Paul Vogel also advised investors not to worry as the company will always monitor global economic movements in making any decisions.
He commented that Spotify is already scrutinizing and evaluating the growth of its number of employees in the near term in issuing a decision to slow down hiring.
For the record, investors are betting on an optimistic assessment of the company’s podcast and audiobooks business in driving growth over the next decade.
Meanwhile, Spotify shares were seen slightly recovering by 7.1% as news of this takeover reduction spread.
It is worth noting that the tech giants are now deciding to slow down recruitment or layoffs due to rising inflation as well as the Russia-Ukraine crisis.
However, there are still companies that act otherwise by offering more job offers like Binance.
