Spotify CEO gives one big reason why 1,500 employees were laid off

Spotify announces layoffs of 1,500 employees, marking the third round of job cuts for the music streaming giant. CEO Daniel Ek attributes the layoffs to the lack of efficiency and productivity within the company. Ek explains in a memo that many employees were not contributing enough and were not doing meaningful work. He emphasizes the need for employees to be relentlessly resourceful and to focus on delivering for key stakeholders. Additionally, Spotify's CFO Paul Vogel is leaving the company, and Ek states that they are looking for a CFO with a different mix of experiences.

from Times of India https://ift.tt/bAnePvH