The company also said its chief content and advertising business officer, Dawn Ostroff, will depart as part of a broader reorganisation.
Spotify, which had about 9,800 full-time employees as of 30 September, said it expects to incur about €35-45m in severance-related charges. Spotify's move comes at a time when tech companies are facing a demand downturn after two years of pandemic-driven growth during which they had hired aggressively.Sweden-based Spotify has seen advertisers pull back on spending, mirroring a trend seen at Meta and Google parent Alphabet, as rapid interest rate hikes and the fallout from the Russia-Ukraine war pressure the economy.
The company had said in October that it would slow down hiring for the rest of the year and into 2023.Last year Spotify bought Ireland-based Kinzen, a company that has helped it identify harmful content on the platform.