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Spotify CEO Daniel Ek surprised at negative impact of laying off 1,500 Spotify employees (fortune.com)

submitted 6 months ago by lautan@lemmy.ca to c/technology@lemmy.world

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Ek said Spotify employees were doing too much "work around the work" as he laid off 17% of the group's workforce in December.

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[-] tedu@azorius.net 40 points 6 months ago* (last edited 6 months ago)

The full quote if you don't want to read the article.

Another significant challenge was the impact of December workforce reduction. Although there’s no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated. It took us some time to find our footing, but more than four months into this transition, I think we’re back on track and I expect to continue improving on our execution throughout the year getting us to an even better place than we’ve ever been.

And the full transcript of the earnings call if you want to read the whole thing.

https://seekingalpha.com/article/4685308-spotify-technology-s-spot-q1-2024-earnings-call-transcript

[-] Vorticity@lemmy.world 23 points 6 months ago

Ah, it's from an earnings call so it is trying to put everything in the best possible light. I wonder how much fan-splattered shit he is glossing over in that statement.

[-] snek@lemmy.world 6 points 6 months ago

Exactly

I can heae beyond his buzzwords that what he means is that thibgs are awful and morale is low, and that he hopes it is now over but we all know it isn't.

[-] obinice@lemmy.world 3 points 6 months ago

The full quote if you don't want to read the article.

Or can't afford to.

I ain't giving some random news website more money than I pay monthly for my Internet connection just to read some article about Spotify, they can go screw xD

[-] assassin_aragorn@lemmy.world 3 points 6 months ago

It took us some time to find our footing, but more than four months into this transition, I think we’re back on track

Did they save more money by firing those employees than they lost in the murky transition? It certainly doesn't seem like it.

this post was submitted on 25 Apr 2024

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