Spotify to axe 1500 jobs to cut costs
Spotify is to cut almost a fifth of jobs at the music streaming business in a move affecting about 1,500 posts. Bosses at the technology firm said in a note to staff that it will axe 17% of the workforce in a bid to be more efficient in the face of a growth slowdown. The company employs around 9,300 people globally. It did not disclose how many roles would be