Spotify announced on Monday that it is laying off 6% of its global workforce as the music streaming company deals with a tough economic time. Laid-off employees will receive 5 months of severance pay, continued health care coverage & immigration support.

                

Music Streaming Firm Spotify To Cut 6% Of Its Workforce

WHAT?

Spotify announced on Monday that it is laying off 6% of its global workforce.

WHY?

It comes as the music streaming company deals with a bleak economic environment.

WHEN?

Spotify announced on 23 January 2023.

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Employees who are laid off will receive an average of five months of severance pay, as well as continued health care coverage and immigration assistance for those whose immigration status is related to their employment. Google was the latest major tech company to announce layoffs last week, announcing plans to lay off 12,000 employees.