Spotify to reduce new hiring by 25% amid economic slowdown

San Francisco : Swedish music streaming giant Spotify is reportedly reducing new hiring by at least 25 per cent as tech companies navigate through volatile market conditions globally.
According to media reports, Spotify is reducing hiring as recession fears mount.
It is, however, unclear which parts of the business will be most affected at Spotify, reports The Verge.
Spotify had more than 6,600 employees at the end of 2021, according to a filing with the US Securities and Exchange Commission (SEC).
Although the market may force the company to slow its ambitions, Ek said in the staff memo that the company will still add headcount.
Also Read BYJU’s says will file financial results for last 2 years this month Spotify CEO Daniel Ek said last week spoke about the company’s growth not only in subscriptions but in verticals beyond music like podcasting and, soon, audiobooks.