Spotify has announced it is laying off around 200 employees, which equates to roughly 2% of its total workforce.
Spotify Vice President Sahar Elhabashi told employees in a memo that those departing the company would be given “generous severance packages”, according to CNBC. He added that the company will continue to see partnerships with “leading podcasters from across the globe”, but added that the reduction in force was a necessary development.
Of the 8,359 employees in the company, 4,332 of those work in the United States.
In recent years, Spotify has spent more than $500 million in acquisitions with prominent figures, including Meghan Markle and the Obamas. The company reportedly spent more than $100 million for The Joe Rogan Experience alone.
The announcement of layoffs comes after company CEO Daniel Ek admitted that some of the investments the company made last year can definitively be labeled a “mistake”.
Spotify Sports Producer and former sports radio program director Dan Zampillo was among the cuts. Zampillo has previously programmed 97.1 The Ticket in Detroit, ESPN LA 710 in Los Angeles, ESPN 980 in Washington DC, and SiriusXM in New York City. He has also served as the Assistant Program Director of WGN Radio in Chicago.
