this post was submitted on 04 Dec 2023
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Spotify to axe 1,500 workers to save costs (www.bbc.com)
submitted 11 months ago by otter@lemmy.ca to c/technology@lemmy.world
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[โ€“] ozmot@lemmy.world 21 points 11 months ago (1 children)

Because of interest rates hikes, companies like Spotify have to focuses on more trivial matters like being profitable. 17% lay off seems like a lot. I wonder if they will go bankrupt?

[โ€“] fosforus@sopuli.xyz 24 points 11 months ago* (last edited 11 months ago)

They reported a 65m profit on the quarter before these layoffs. I don't think they're going bankrupt unless this last quarter has been a disaster for them.