Spotify CEO Daniel Ek surprised by how much laying off 1,500 employees negatively affected the streaming giant’s operations - eviltoast
Spotify CEO Daniel Ek surprised at negative impact of laying off 1,500 Spotify employees
fortune.com
Ek said Spotify employees were doing too much "work around the work" as he laid off 17% of the group's workforce in December.

cross-posted from: https://lemm.ee/post/30272690

When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.

The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.

However, the company failed to hit its guidance on profitability and monthly active user growth.

Edit: Thanks to @Zerlyna@lemmy.world for the paywall-free link: https://archive.ph/wdyDS

  • Son_of_dad@lemmy.worldEnglish
    281·
    8 months ago

    I bet you they just expected the remaining staff to pick up the slack.

    Don’t do more than what you’re paid for. Don’t do favors for your bosses. Never give 110%. Because come pay time, they won’t be as loyal to you as you are to them.