Spotify slows recruitment by 25

Spotify slows recruitment by 25%

Spotify CEO Daniel Ek emailed staff the day before to slow down hiring by 25%. The decision is prompted by global economic issues affecting businesses around the world.

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Many tech companies showed abnormal growth during the acute phases of the pandemic, but today, on the brink of global economic uncertainty, they need to cut costs and sometimes adjust HR policies. Notably, crypto exchange Coinbase announced the layoff of 1100 employees and Meta* decided to suspend recruitment in certain hopeless areas.

Spotify management’s decision is also driven by economic considerations. The company’s chief financial officer, Paul Vogel, recently stated: “We are aware of the growing uncertainty in the global economy. And while we have not yet seen a significant impact on the business, we will be closely monitoring the situation and evaluating our headcount growth in the near future.”.

In a letter to staff, Mr Ek said that Spotify “will reduce hiring by 25%”but stressed that the company “will continue to grow [работников] and growing, we’re just going to slow that pace and be a bit more cautious about absolute hiring levels in the coming quarters.”.

* It is included in the list of public associations and religious organizations for which the court made a final decision, activities on the grounds of Federal Law No. 114-FZ of July 25, 2002 “On Combating Extremist Activity”.


About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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