Spotify announced that it was laying off 200 employees on Monday, amounting to 2% of its workforce. The layoffs take place in the podcasting unit for the streaming audio giant as a pivot in the strategy of podcasting looms. The podcasting unit will now become a more tailored partnership approach, as the company wants to handle partnerships with "leading podcasters from across the globe." - Spotify is combining Parcast and Gimlet into an expanded Spotify Studios operation.
- The employees that were laid off earned generous severance packages, according to the memo put out by Spotify vice president Sahar Elhabashi.
- Since 2020, Spotify has greatly expanded its podcasting presence, spending $526M on four different acquisitions in the podcast space.
- Elhabashi emphasized that the "fundamental pivot from a more uniform proposition will allow us to support the creator community better."
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