On Monday, Spotify Technology SA announced that it will be laying off 200 employees in its podcast division, which accounts for approximately 2% of the company's global workforce. This move comes as Spotify aims to broaden its revenue streams beyond music streaming. In recent years, the company has aggressively expanded its podcast offerings, investing over $1 billion in the medium and securing popular personalities like Joe Rogan for its platform. Spotify stated that it intends to enhance its partnership efforts with renowned podcasters worldwide, adopting a customized approach tailored to each show and creator.
Earlier in January, Spotify had revealed its plans to reduce its workforce by 6%. Indian IT professionals on non-immigrant work visas, such as H-1B and L1, have also been impacted by the layoffs, creating uncertainty and the need to find new employment within a restricted timeframe to comply with their visa requirements. Mounika G, a software engineer who was part of the group affected by the recent layoffs at Spotify, took to LinkedIn to share a heartfelt message. In her post, she expressed deep appreciation for the opportunity to work at the company and conveyed her shock and disappointment regarding the unexpected turn of events. Now, Mounika faces the daunting task of securing a new job within a limited 60-day period to ensure her continued stay in the United States.
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