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© Reuters. Small collectible figurines are seen in entrance of displayed Spotify brand on this illustration taken February 11, 2022. REUTERS/Dado Ruvic/Ilustration
(Reuters) – Spotify Know-how SA (NYSE:) stated on Monday it might lay off 200 workers in its podcast division, representing about 2% of the audio streamer’s worldwide workforce.
The corporate has resorted to aggressive enlargement to complement its earnings from music streaming with different revenue-generating codecs resembling podcasts, spending greater than $1 billion on them and including fashionable names resembling Joe Rogan to its roster.
“We’re increasing our partnership efforts with main podcasters from throughout the globe with a tailor-made method optimized for every present and creator,” Spotify stated.
The corporate stated in January it deliberate to chop 6% of its employees and would take a associated cost of as much as $50 million.
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