When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.
The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.
However, the company failed to hit its guidance on profitability and monthly active user growth.
It’s almost like employees are more than just numbers on a spreadsheet. Who knew.
“People are PEOPLE? That’s not what I wanna hear…”
/ AI removes Depeche Mode from streaming playlist /
Words are very unnecessary
We refer to them as “human capital”
"You know; like people. That we own and can dispense with whenever needed. It’s the future!
I prefer to look at them as a renewable resource. There will always be more orphans for the orphan crushing machine.