![]() ![]() ![]() Opendoor announced it was cutting 560 jobs on Tuesday. ![]() So, in an effort to drive more efficiency, control costs, and speed up decision-making, I have decided to restructure our organization," he wrote.Īs part of those changes, Dawn Ostroff, the company's chief content and advertising officer, who spent more than $1 billion signing exclusive podcast deals with Joe Rogan, the Obamas, and Prince Harry and Meghan Markle, has departed. And in a challenging economic environment, efficiency takes on greater importance. We still spend far too much time syncing on slightly different strategies, which slows us down. "While we have made great progress in improving speed in the last few years, we haven't focused as much on improving efficiency. In a memo to Spotify employees, CEO Daniel Ek said the company would cut 6% of its staff, about 600 people. This announcement arrives on the tail of additional layoffs the music streaming service made back in January. "The company will support these individuals with generous severance packages, including extended Healthcare coverage and immediate access to outplacement support," the statement read. The "fundamental pivot from a more uniform proposition will allow us to support the creator community better," the memo read. In the memo sent to employees, the vice president of Spotify's podcast business Sahar Elhabashi explained the layoffs were a part of the brand's decision to change how it works with podcast partners around the globe. The layoffs will impact employees across Spotify's podcasting business and its supporting functions, including talent acquisition and financial roles, a Spotify spokesperson told Insider. ![]() Spotify announced that the music and podcast streaming app would lay off about 200 employees, or 2% of its workforce. Onur Dogman/SOPA Images/LightRocket via Getty Images Spotify announced it would lay off 2% of its workforce, following job cuts the brand announced back in January. According to data cited by the Journal from Layoffs.fyi, a site tracking layoffs since the start of the pandemic, tech companies slashed more than 187,000 in 2023 alone - compared to 80,000 in March to December 2020 and 15,000 in 2021. The layoffs have primarily affected the tech sector, which is now hemorrhaging employees at a faster rate than at any point during the pandemic, the Journal reported. The downsizing followed significant reductions that companies including Meta and Twitter made last year. These companies join a large number of major corporations that have made significant cuts in the new year: Tech companies, including Meta and Google, and finance behemoths, like Goldman Sachs, announced massive layoffs in the first weeks of 2023 amid a continued economic downturn and stagnating sales. The news comes less than a week after cryptocurrency exchange company Binance announced it was considering staff cuts, and on the heels of recent layoffs at companies including JPMorgan Chase, LinkedIn and Shopify. Account icon An icon in the shape of a person's head and shoulders. ![]()
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