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Spotify Latest Tech Name To Cut Jobs, Axes 6% Of Workforce

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LONDON — Spotify said on Monday that it would cut about 600 jobs or 6% of its global workforce. As the economy gets worse, more and more tech companies have to rethink their growth plans from the time of the pandemic.

CEO Daniel Ek told employees and the public about the change in a message posted online.

As part of the revamp, which includes a management reshuffle, “we’ve made the difficult but necessary decision to reduce our number of employees,” Ek wrote.

This month, big tech companies like Amazon, Microsoft, and Google announced tens of thousands of job cuts as the industry’s economic boom from the COVID-19 pandemic faded.

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Spotify Benefited From The Lockdown

Stockholm-based Spotify benefited from pandemic lockdowns because more people sought entertainment while stuck at home. Ek said that the company’s business model, which had been based on growth, needed to change.

Last year, the company’s operating costs increased at twice the rate of revenue growth, a gap that would be “unsustainable long-term” in any economic climate but would be even more difficult to close in “a challenging macro environment,” he said.

Spotify recently made a “considerable effort” to cut costs, but “it simply hasn’t been enough,” he said.

“I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us. “In retrospect, I was overly ambitious in investing ahead of our revenue growth,” Ek admitted.

No Exact Number Of Jobs Lost Published

That is why, he claims, the company is reducing its global workforce by about 6%. Ek did not provide an exact number of job losses, but a company spokesman said it was 600, based on the 9,808 employees listed in the company’s most recent quarterly report.

“I accept full responsibility for the decisions that brought us here today,” Ek said.

Analysts say that after years of fast growth, tech companies are having to cut jobs to get ready for a slowdown in the economy, which will mean less demand for their software, products, and services, as well as less money spent on digital ads.

Google announced 12,000 job cuts just last week, while Microsoft announced 10,000 job cuts, bringing the total number of cuts announced by Big Tech companies in January to at least 48,000.

Despite the recent layoffs, most technology companies are still much larger than they were three years ago. According to the company’s annual report for 2019, Spotify had 4,405 employees before the pandemic began.

Spotify shares rose 3.5% to $101.32 in morning trading.

SOURCE – (AP)

 

 

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Recently Arrested Morgan Wallen Says He’s “Not Proud” Of Behavior

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Nashville, Tennessee – Morgan Wallen, a country music singer facing charges coming in part from allegations that he tossed a chair off the rooftop of a six-story club, says he is “not proud” of his actions and accepts responsibility.

The “One Thing at a Time” singer took to social media Friday night to comment to his arrest in Nashville two weeks earlier. According to court documents, he was charged with three felony charges of reckless endangerment and one misdemeanor count of disorderly conduct. He is scheduled to appear in court on May 3.

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Recently Arrested Morgan Wallen Says He’s “Not Proud” Of Behavior

According to an arrest document, the chair at Chief’s pub landed about 3 feet (1 meter) from officers, who spoke with witnesses and checked CCTV footage. Witnesses informed police that they saw Wallen take up a chair, throw it over the roof, and laugh about it. Wallen was arrested early on April 8 and later freed.

“I didn’t feel comfortable checking in publicly until I had made apologies with some people. I’ve contacted Nashville police enforcement, my family, and the friendly staff at Chief’s. I’m not proud of my actions, and I accept responsibility,” Wallen stated on X (previously Twitter).

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Recently Arrested Morgan Wallen Says He’s “Not Proud” Of Behavior

Wallen, one of the most well-known artists in contemporary country music, is now on a stadium tour that includes a concert on Saturday at Vaught-Hemingway Stadium in Oxford, Mississippi.

“I have the greatest regard for the cops who labor every day to keep us all safe. “There will be no changes to my tour,” his reply read, signed “-MW.”

The “One Thing at a Time” album topped the Billboard 200 for 16 weeks in 2023 and was the best-selling album in the United States last year. The top ten successes from the album included “Last Night,” “You Proof,” and “Thinkin’ Bout Me.”

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Recently Arrested Morgan Wallen Says He’s “Not Proud” Of Behavior

In 2021, the country artist was suspended indefinitely by his label when a video surfaced showing him uttering a racial slur. He was arrested in 2020 for public intoxication and disorderly conduct after being booted out of Kid Rock’s downtown Nashville bar.

SOURCE – (AP)

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Dickey Betts, Co-Founder Of The Allman Brothers Band, Dead At 80

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Dickey Betts, a guitarist and co-founder of the Allman Brothers Band, has died, according to a family statement released to CNN on Thursday by his longtime manager.

Betts was eighty.

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Dickey Betts, Co-Founder Of The Allman Brothers Band, Dead At 80

“It is with profound sadness and heavy hearts that the Betts family announces the peaceful passing of Forrest Richard ‘Dickey’ Betts,” according to the statement. “The well-known performer, songwriter, bandleader, and family patriarch passed away this morning at his home in Osprey, Florida, with his family by his side. Dickey was larger than life, and his absence will be felt around the world. During this terrible time, the family requests prayers and respect for their privacy in the coming days. More information will be provided at the proper time.”

Betts’ manager, David Spero, told Rolling Stone that the guitarist had cancer and chronic obstructive lung disease.

Betts, who was born in West Palm Beach, Florida, grew up listening to bluegrass, country music, and, subsequently, rock & roll. Betts, bass guitarist Berry Oakley, drummers Butch Trucks and Jaimoe, and brothers Gregg and Duane Allman formed the Allman Brothers Band in 1969, and are credited with helping create the sound and genre of Southern rock in the 1960s and 1970s.

Betts composed and sung the band’s biggest song, “Ramblin’ Man.” Initially, he created the song with the intention of having another artist sing it.

“I was going to send ‘Ramblin’ Man’ to Johnny Cash,” Betts stated in 2020, later adding that he “thought it was a great song for him.”

“But everyone liked the song. Even my father enjoyed the song before we recorded it or anything. And I’m thinking I’ll email this to Johnny Cash and see if he wants to perform it,” he added. “The producer (Johnny Sandlin) mentioned that we needed another song for the record and asked if I had any. I explained, ‘Well, I got one, but I was going to send it to Nashville for Cash to record.’ He said, ‘Let’s hear it. And then, ‘No! We gotta do it.'”

Betts also wrote the popular Allman Brothers songs “Blue Sky” and “Jessica.”

Duane Allman died in a motorcycle accident in 1971, and Oakley died in a motorcycle crash the following year. Betts and Gregg Allman became the band’s leaders, but creative disputes and substance misuse prompted the group to split up and reform several times.

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Dickey Betts, Co-Founder Of The Allman Brothers Band, Dead At 80

Cameron Crowe, then 16, followed the Allman Brothers Band on tour in 1973 for a Rolling Stone cover story that would later serve as the basis for Crowe’s Oscar-winning 2000 film “Almost Famous.” In 2017, Crowe described Billy Crudup’s key rock star character as “a tribute” to Betts.

In an email to CNN later that day, Crowe referred to Betts as “a guitarist for the ages, the musical glue that held together The Allman Brothers Band for many years.”

“Dickey’s quiet warmth, and his timeless contribution to American music was a big inspiration for our film,” said the writer-director.

Betts quit the Allman Brothers Band in a widely publicized separation in 2000. While the band continued to tour for nearly 15 years and issued one more studio album, Betts performed with his Great Southern ensemble, which included his son Duane, and released another studio album of new songs. Betts retired in 2014.

Also on Friday, the Allman Brothers Band issued an official statement, stating that Betts’ “extraordinary guitar playing alongside guitarist Duane Allman created a unique dual guitar signature sound that became the signature sound of the genre known as Southern Rock.”

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Dickey Betts, Co-Founder Of The Allman Brothers Band, Dead At 80

“He was passionate in life, be it music, songwriting, fishing, hunting, boating, golf, karate or boxing,” the statement went on to say. “Dickey was all in on and excelled at anything that caught his attention.”

When asked what he enjoyed most about music, Betts told the Sarasota Herald Tribune in 2020 that it was the impact it had on his listeners.

“I like the crowds mainly, and what the music did for them,” he went on to say. “They enjoyed the music more than I did. I just love how the crowd can drift off into another universe during a concert.”

SOURCE – (CNN)

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Taylor Swift Drops 15 New Songs On Double Album, ‘The Tortured Poets Department: The Anthology’

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NEW YORK — Could there be a Taylor Swift new album release without any added surprises?

No.

On Friday, the pop star released her 11th album, “The Tortured Poets Department,” which is an amalgamation of her previous work and reflects the artist who, at the height of her powers, has spent the last few years re-recording her life’s work and touring it, filtered through synth-pop anthems, breakup ballads, provocative and matured considerations.

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Taylor Swift Drops 15 New Songs On Double Album, ‘The Tortured Poets Department: The Anthology’

But it was midnight. At 2 a.m. Eastern, she released “The Tortured Poets Department: The Anthology,” which included 15 new songs.

“I’d written so much tortured poetry in the past 2 years and wanted to share it all with you, so here’s the second installment,” Swift wrote in an Instagram caption. “And now the story isn’t mine anymore… it’s all yours.”

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Taylor Swift Drops 15 New Songs On Double Album, ‘The Tortured Poets Department: The Anthology’

The songs are a natural continuation of the first half of the album, with many returning to her “evermore” and “folklore” style, aided by her partner Aaron Dessner.

Swift has surprised her fans before, and she has surely done so with a surprise album release. A few months after “folklore” was released in 2020, she revealed that “evermore” will be available at midnight on the same day. Speaking of midnight, she released a “3am” edition of “Midnights” with seven new tracks in 2022, just a few hours after the original release.

Taylor Swift’s album “The Tortured Poets Department” is now available.

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Taylor Swift Drops 15 New Songs On Double Album, ‘The Tortured Poets Department: The Anthology’

Music Writer Maria Sherman describes it as “an amalgamation of an artist who has spent the last few years re-recording her life’s work and touring its material, filtered through synth-pop anthems, breakup ballads, provocative and matured subject matter.”

Swift revealed a surprise two hours after the album’s release: 15 more tracks.

Swift’s first original album since her record-breaking Eras Tour debuted last year.

SOURCE – (AP)

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