Spotify to slow hiring by 25% amid economic uncertainty

FILE PHOTO: A trader is reflected in a computer screen displaying the Spotify brand at the New York Stock Exchange in New York, U.S., April 3, 2018. REUTERS/Lucas Jackson/File Photo

(Reuters) -Spotify Technology SA will reduce its hiring by 25%, according to a source familiar with the contents of a companywide email, making it the latest tech company to curb expenses amid economic uncertainty.

Spotify Chief Executive Officer Daniel Ek informed the staff via email Wednesday that the world's largest on-demand audio service would continue hiring, though it would slow the pace "and be a bit more prudent" of over the next few quarters. The company said it employs about 8,230 people worldwide.