Tech Disaster Continues, Spotify To Slash 6% Of Workforce

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At a glance

  • Spotify said Monday it will lay off 6% of the music streaming company’s workforce, making it the latest big technology company to announce a sizable reduction in payrolls as the U.S. economy slows.
  • Tech giants including Google-parent Alphabet, Amazon, Meta and Microsoft have moved to slash jobs in recent months ahead of a possible recession. In January alone, industry players have cut roughly 50,000 jobs, reversing a hiring spree that surged during the pandemic as millions of Americans moved their lives online.

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