Spotify (NYSE: $SPOT) Job Layoffs Ranks As Largest In Media Industry History (600 Jobs Lost)
February 22, 2023 (Investorideas.com Newswire) Fair Betting Sites sourced data from Statista to reveal the 10 largest media industry layoffs in history & put Spotify's recent cuts into context.
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Full story here, https://fairbettingsites.co.uk/blog/2023/02/22/spotify-job-layoffs-ranks-as-largest-in-media-industry-history/
List below for the largest media industry layoffs worldwide as of January 2023.
- Spotify - 600 Jobs (January 2023)
- Netflix - 300 Jobs (June 2022)
- Big Fish Games - 250 Jobs (September 2020)
- Meow Wolf - 201 Jobs (April 2020)
- Roku - 200 Jobs (November 2022)
- BuzzFeed - 180 Jobs (December 2022)
- Netflix - 150 Jobs (May 2022)
- VerSe Innovation - 150 Jobs (November 2022)
- Calisto Media - 140 Jobs (July 2022)
- Vox Media - 130 Jobs (January 2023)
Spotify Job Layoffs Ranks As Largest In Media Industry History (600 Jobs Lost)
The move set to cut 600 employees, amounts to 6 percent of Spotify's staff.
The music streaming company is apparently looking to restructure in hopes of increasing efficiency, reducing costs and speeding up decision-making.
Overall, the layoffs continue a trend in the media industry, which has seen 10 different companies cut at least 130 jobs over the last two years.
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