The Latest Breaking News from Spotify

Ho, ho ho, the stock is at a 12-month high, and the music streaming service just added 23 million subscribers, but 17% of the its workforce, over 1,500 employees, just lost their jobs anyway

Singer-songwriter India Naia is of German-Algerian heritage and spent some of her childhood in France before moving to Florida, where she grew up listening to the "crème de la crème" of hip-hop and R'n'B. Several years ago she moved to Paris, where she began writing music. She popped by Arts…

Music streaming giant Spotify said Monday it would reduce its number of employees by around 17 percent in a bid to cut costs amid "dramatically" slower economic growth.

In a memo addressed to staff, CEO Daniel Ek said it was necessary for the company to "rightsize" after hiring too many people during 2020 and 2021. Roughly 1,500 workers are likely to be let go.