Spotify Drop Hire Rate By 25%
In response to fears of an upcoming recession, Spotify have re-evaluated their hiring process and reduced their hiring rate by 25 percent.
The information comes from an internal memo that was obtained by Bloomberg, however it does not specify which areas of the business the change will affect.
The report follows Spotify’s recent investor presentation where CEO Daniel Ek announced to investors the company is looking to expand further into podcasting, as well as into audiobooks and more. According to Paul Vogel, chief financial officer at Spotify, a staffing reduction was always on the cards given the current economic climate.
“We are clearly aware of the increasing uncertainty regarding the global economy.”
“While we have yet to see any material impact to our business, we are keeping a close eye on the situation and evaluating our headcount growth in the near term.”
Other tech companies are also looking at lowering their staff growth rates, with Meta and Twitter both announcing a hiring freeze in recent weeks, while Netflix have announced staff cuts in response to drops in subscriber counts.