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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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American Who Made Social Media Threats Against Taylor Swift Detained Ahead Of German Concert

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BERLIN — An American man who made threats against Taylor Swift on social media was seized before her first concert in Gelsenkirchen, Germany, and will be held in custody until her gigs there end, authorities said Thursday.

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swift | AP news Image

American Who Made Social Media Threats Against Taylor Swift Detained Ahead Of German Concert

According to police, the accused stalker, a 34-year-old whose name has not been disclosed, had a ticket to Taylor’s concert at Gelsenkirchen’s Veltins-Arena on Wednesday. They stated that he was detained at event admission checks because an early assessment could not completely rule out a risk.

According to police, the man threatened Taylor and her partner on social media. They say he was detained after receiving tips from the event’s organizers.

The American superstar will perform in Gelsenkirchen on Wednesday, Thursday, and Friday as part of her Eras tour. According to authorities, a local court has ordered that the suspected stalker be detained until Saturday.

They went on to say that Swift and the audience were always safe. The event drew approximately 60,000 people on Wednesday evening and went off without incident.

American Who Made Social Media Threats Against Taylor Swift Detained Ahead Of German Concert

Before the concerts, Gelsenkirchen temporarily renamed the town “Swiftkirchen” and honored the singer on a “Walk of Fame” dedicated to local luminaries.

Taylor has plans to perform in two more German cities after Gelsenkirchen: Hamburg and Munich.

SOURCE | AP

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Britney Spears Has A Message For Ozzy Osbourne After He Called Her Dancing ‘Sad’

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Nobody puts Britney Spears in a corner.

The singer was highlighted on a recent episode of “The Osbournes Podcast,” in which Ozzy Osbourne stated that he was “fed up with seeing poor old Britney Spears dancing on social media.”

“You know, it’s sad,” the renowned rocker admitted. “Very, very sad.”

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Britney Spears | People Image

Britney Spears Has A Message For Ozzy Osbourne After He Called Her Dancing ‘Sad’

His family agreed, including his wife Sharon and older children Kelly and Jack Osbourne.

Britney, who routinely posts videos of herself dancing on social media, noticed and responded with a lengthy comment.

She began her essay by mentioning Kate Beckinsale’s 2001 film Serendipity and stating that “incredibly cruel people were talking about [Beckinsale] needs more age-appropriate content.” Beckinsale, who is in her fifties (as Britney also highlighted), has been known to confront social media bullies.

Britney then reacted to the Osbournes’ complaints. She stated that she rarely dances and responded to Sharon Osbourne’s description of her as “a poor little thing” by saying, “I’m not poor at all!!!”

Britney Spears Has A Message For Ozzy Osbourne After He Called Her Dancing ‘Sad’

“I taught dance lessons to a few adolescents last week… Spears wrote, “A lot of the kids were too thin, and some were too big.” “I know what it’s like to be judged, so it’s a ridiculous and stupid subject initially, but I think it’s important to HELP EACH OTHER and invite each other to places that help our souls to grow!!!”

Spears closed her email to the Osbournes, whom she described as “the most boring family known to mankind,” by ordering them to “kindly f**k off.”

SOURCE | CNN

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Jack Black Ends Tenacious D Tour After Bandmate’s Trump Shooting Comment

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Jack Black | AP news Image

Tenacious D, the comedic rock duo comprised of Jack Black and Kyle Gass, has postponed the remainder of their tour following Gass’ remarks about the murder attempt on Donald Trump.

On Sunday, while onstage at a concert in Sydney, Black presented Gass with a birthday cake and urged him to “make a wish”. Gass responded, “Don’t miss Trump next time,” an apparent reference to the previous day’s rally shooting, which left the former president with a damaged ear. The footage of Gass was widely shared on social media.

Jack Black Ends Tenacious D Tour After Bandmate’s Trump Shooting Comment

“What was mentioned during the broadcast on Sunday caught me off guard. “I would never condone hate speech or encourage political violence in any way,” Black wrote in an Instagram post on Tuesday. “After much thought, I no longer believe it is right to continue the Tenacious D tour, and any future creative plans are paused. I appreciate the fans’ support and understanding.”

Following Black’s statement, Gass apologized on Instagram.

“The line I improvised Sunday night in Sydney was highly inappropriate, dangerous and a terrible mistake,” the comedian wrote Tuesday. “I condemn all forms of violence against anyone. What happened was a tragedy, and I sincerely apologize for my lack of judgment.”

The band recently finished touring in the United States and Europe. Their “Spicy Meatball Tour” is set to resume Tuesday night in Newcastle. This month, they will visit most major cities in Australia and New Zealand before returning to the United States for a few chosen dates in October.

Jack Black Ends Tenacious D Tour After Bandmate’s Trump Shooting Comment

“Frontier Touring regret to advise that Tenacious D’s concert tonight at Newcastle Entertainment Centre has been postponed,” their touring firm stated on Instagram Tuesday. “Ticket holders are asked to hold onto their tickets until further information is available.”

A band representative referred the Associated Press to Black’s remark when approached for further comment. Details about reimbursements for the remaining tour dates were not immediately available.

SOURC | AP

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