Spotify Joins Meta, Twitter, Microsoft And Google In Layoffs, Announcement Likely This Week

After Meta, Twitter, Amazon and most recently Google, music streaming giant Spotify is planning to lay off employees as soon as this week.

This comes amid an industry-wide bloodbath that has cost thousands of job cuts across. ( Image: Getty )

After Meta, Twitter, Amazon and most recently Google, music streaming giant Spotify is planning to lay off employees as soon as this week, the media has reported. The number of employees that would be impacted by the job cuts at Spotify is not clear, says a report by news agency Bloomberg on Monday.

Earlier in October, the Swedish music streaming giant laid off 38 employees from its Gimlet Media and Parcast podcast studios. The music streaming giant has about 9,800 employees, as per its third-quarter earnings report, the Bloomberg report added.

This comes amid an industry-wide bloodbath that has cost thousands of job cuts across Google, Microsoft, Meta, Amazon and Twitter, among other tech firms. Tech companies added to their headcounts during the coronavirus pandemic but were forced to make reductions in response to reduced advertising revenue and a declining economic outlook.

Amazon.com, Meta and Microsoft were among the biggest companies to announce staff reductions recently, while Google's parent Alphabet said late last week it will cut about 12,000 jobs, which is more than 6 per cent of its global workforce.

The job cuts across Alphabet will impact employees globally and across the entire company, company CEO Sundar Pichai told employees in an email on Friday. Pichai reportedly added that he takes “full responsibility for the decisions that led us here."

Meanwhile, Twitter is planning to retrench more employees in the product division in the coming weeks, after the chaotic takeover by tech billionaire Elon Musk that led to thousands of job cuts at the micro-blogging company. The latest cut will affect 50 workers in the product division, reported news agency Reuters.

Since Musk took control of the company, Twitter has seen almost 5,000 of its 7,500 employees either fired or left the company. The new chief called for a 'hardcore' work environment for the remaining workforce.