Several big names, from PayPal Holdings, Inc (NASDAQ: PYPL), Warner Bros. Streaming giants like Netflix, Inc (NASDAQ: NFLX), which had a great run during the pandemic, are now facing the heat following recovery and surging inflation rates which have restricted consumer spending. Spotify had also predicted that its investments in podcasting and audiobooks would fuel growth over the next decade, Reuters reported.

Previously, during an investor conference, CFO Paul Vogel alerted about monitoring the global economy and evaluating its headcount growth in the near term. Spotify had ~8,230 employees globally at Q1-end.Īlso Read: Alibaba Continues Organizational Restructuring, Global Diversification To Beat Regulatory Crackdown Blues However, he added the company would “continue to still hire and grow, we are just going to slow that pace and be a bit more prudent with the absolute level of new hires over the next few quarters.” Spotify Technology S.A. (NYSE: SPOT) slowed hiring by 25%, CNBC reports based on a companywide email from CEO Daniel Ek.

Is spotify down june 16