Spotify seen cutting staff as early as this week to reduce costs

Small figurines are seen in front of displayed Spotify logo in this illustration taken February 11, 2022. REUTERS/Dado Ruvic/Ilustration

STOCKHOLM: Spotify Technology SA is planning layoffs as soon as this week in an effort to curtail costs, according to people familiar with the plans.

The number of job cuts wasn’t specified. Spotify laid off 38 people from its Gimlet Media and Parcast podcast studios in October, as well as podcast editorial employees in September. The music streaming giant has about 9,800 employees, according to its third quarter earnings report.