Spotify, the streaming giant

 

Spotify, the streaming giant, announced that it would lay off 200 employees, or 2% of its workforce, to refocus its podcasting unit.  The company announced that it would reconfigure how it handles its partnerships with "leading podcasters from across the globe." Spotify has heavily invested in the podcasting unit over the past three years, with four different acquisitions. Sahar Elhabashi, vice president at Spotify, announced the cuts this morning to employees via memo.  Those impacted will receive a "generous severance package," according to the memo. Spotify is making this move, and the pivot from a "more uniform proposition will allow us to support the creator community better."