Spotify is now another tech company to also announce workforce reductions, shedding around 6% of their full-time workforce.
This roughly affects nearly 600 Spotify employees.
Spotify says this is part of the restructuring of their company, in an effort to continue to increase efficiency, reduce costs, and speed up decision-making.
Previously, a number of technology companies have also cut down on workforce reductions, including Google which shed 12,000 workers, in addition to Microsoft which shed around 10,000 workers.
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BUSINESS & MONEY