On Monday, Spotify announced its plans to lay off hundreds of employees as it deals with financial struggles. Amidst the slowing economy and downturn in the technology market, Spotify is hoping that this decision will help cut costs. However, the CEO has stated that the affected workers will be notified through personal, one-on-one conversations and will receive severance as well as a period of health care coverage.
See "Spotify to lay off hundreds of employees, marking another workforce reduction within the tech industry ", Ryan Browne, CNBC, January 23, 2023