Music streaming giant Spotify announced Monday that it will lay off around 1,500 employees, or 17% of its workforce, in an effort to further reduce expenses.
The latest round of job cuts come after the company let go of 600 staff members in January and 200 more workers in June.
Spotify CEO Daniel Ek said in a letter to employees that the company “put significant emphasis” on its growth in 2021 and 2022, as the state of the economy allowed it to do so, but “we now find ourselves in a very different environment.”