Tech

Spotify announces layoffs, cuts 200 jobs in podcast division

Published

11 months ago

Farwa

Music streaming giant Spotify Technology SA has revealed plans to lay off 200 workers in its podcast unit, marking the company’s second round of layoffs as it undergoes a business restructuring following years of substantial investment.

This move affects approximately 2% of Spotify’s workforce and aligns the company with others such as Meta Platforms and Roku, both of which have also implemented job cuts in response to an uncertain economic climate.

In early trading, shares of the Sweden-based company rose about 0.5%, outperforming the overall market, which displayed muted activity. Spotify had previously made aggressive investments to establish its podcast business, aiming to attract more advertisers through the higher engagement levels offered by the format.

However, this expansion strategy resulted in a significant increase in operating expenditure, growing twice as fast as its revenue last year. The combination of rising interest rates and high inflation has compelled businesses to reduce spending on advertisements.

Consequently, Spotify initiated a 6% reduction in its workforce earlier in 2023 and announced the departure of Dawn Ostroff, who played a pivotal role in shaping the podcast business and navigating through controversies, including the backlash surrounding Joe Rogan’s show for allegedly spreading misinformation about COVID-19.

Sahar Elhabashi, the head of the podcast business at Spotify, explained on Monday that the company has made the “difficult but necessary decision to make a strategic realignment.” Additionally, Spotify intends to merge its Parcast and Gimlet studios into a single division called Spotify Studios, which will focus on producing Spotify originals.

Elhabashi further elaborated that Spotify will adopt a tailored approach for each show and creator, moving away from the previously uniform approach. This shift in strategy aims to provide greater flexibility and customisation to meet the unique needs of individual content creators and their shows.

By implementing these measures, Spotify aims to streamline its operations and optimise resources to adapt to the evolving economic landscape. The company recognises the importance of addressing cost management and ensuring long-term sustainability while maintaining its position as a prominent player in the music streaming and podcast industry.

The layoffs in the podcast division are part of the broader efforts to restructure the business and maintain a competitive edge in the face of ongoing challenges.

Latest News

The green colour of WhatsApp ‘angers’ some users.

Published

4 days ago

Farwa

After changing its display colour from blue to green, WhatsApp, which was before well-known for its blue motif, caused its users to hold divergent views.

New upgrades to the Meta app always spark a lot of discussion, regardless of how big or small the changes are.

Still, Meta-owned WhatsApp hopes that these modifications would “make it more accessible as well as easier to use” and offer a “modern, new experience” with relation to the updated display color.

A statement from the firm claimed that they had altered WhatsApp’s “looks and feels, including spacing, colors, icons, and more.”

Both iOS and Android users can now view the new WhatsApp update; the green tint on the latter has changed from the previous version.

However, iPhone users will notice that every display element, including the chat-list window and status bar, has changed with the recent design update. WhatsApp used to have a blue color scheme on iPhones.

Furthermore, the formerly blue links shared within the app are now displayed in green.

In addition, WhatsApp has made other improvements to improve its user experience outside of the color shift.

Latest News

Punjab will provide fifty thousand solar kits.

Published

1 month ago

Farwa

On Tuesday,Tuesday, while presiding over a review meeting on solar household solutions, the CM gave the order to begin the installation of one kilowatt solar systems right away. She also gave the order to introduce the newest solar systems.

Phase-I solar systems would be balloted for by 50,000 protected users who use 100 units each month, at a cost of Rs 12.6 billion.

Home-based solar systems will eventually be made available to other Punjabi consumers. A solar system will consist of a battery, inverter, sophisticated solar plate, and more related accessories.

Attending the meeting were Provincial Information Minister Azma Zahid Bukhari, MPA Sania Ashiq, Former Senator Pervaiz Rashid, Chief Secretary, Chairman Planning and Development, Secretaries of Energy, Finance, and Punjab Power Development Board (PPDB) Managing Director, in addition to other pertinent officers.

During his inaugural speech as Punjab’s chief minister, Maryam Nawaz outlined her five-year plan and promised to develop a strategy for customers who use fewer than 300 units of power.

According to Maryam Nawaz, the PML-N’s main goals for her term will be to provide jobs, healthcare, and education.

She said, “I am working on a plan to provide solar panels to consumers using up to 300 units of electricity or less in installments.”

Pakistan

There will be free WiFi in public parks.

Published

1 month ago

Farwa

The discussion on the province’s capital city’s beautification was chaired by Chief Minister Ali Amin Gandapur.

CM Gandapur gave the pertinent authorities instructions at the meeting to complete the arrangements and submit the free WiFi service plan for the province government’s approval.

In the following phase, he said, the service will be extended to more cities. In addition, the chief minister gave the Peshawar Development Authority instructions to create a beatification plan for the city.

The meeting voted to launch a Bus Rapid Transit (BRT) service on Nasir Bagh Road in the province capital with the goal of facilitating the easy mobility of the population.

CM Gandapur pushed for the installation of underpasses rather than overhead bridges and ordered the city’s street lights to be converted to solar power.

The chief minister gave the order to begin work on the road around the BRT Corridor at University Road as well as the building of the remaining section of Warsak-Nasir Bagh Road right away.

In order to promote KP’s culture, he also oversaw the installation of fake plants on all road walks and painted headbridges and walls with designs.

The chief minister of KP gave the order to approach business organizations for assistance in this respect.