Spotify To Cut Podcast Division Headcount By 200 Employees
Portfolio Pulse from Lekha Gupta
Spotify plans to cut 200 employees, or 2% of its workforce, in its global podcast division and other functions as part of a strategic business alignment. The company will focus on expanding its alliance with leading podcasters and combine Parcast and Gimlet into a renewed Spotify Studios operation.
June 05, 2023 | 3:50 pm
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POSITIVE IMPACT
Spotify's decision to cut 200 employees in its podcast division and other functions may lead to short-term cost savings and a more focused business strategy.
Spotify's decision to cut 200 employees, or 2% of its workforce, is likely to result in short-term cost savings. The strategic alignment of the business, focusing on expanding alliances with leading podcasters and combining Parcast and Gimlet into a renewed Spotify Studios operation, may lead to a more focused and efficient business strategy. This could potentially have a positive impact on the company's stock price in the short term.
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