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Spotify (NYSE: $SPOT) Job Layoffs Ranks As Largest In Media Industry History (600 Jobs Lost)


February 22, 2023 ( Newswire) Fair Betting Sites sourced data from Statista to reveal the 10 largest media industry layoffs in history & put Spotify’s recent cuts into context.

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List below for the largest media industry layoffs worldwide as of January 2023.

Spotify – 600 Jobs (January 2023)
Netflix – 300 Jobs (June 2022)
Big Fish Games – 250 Jobs (September 2020)
Meow Wolf – 201 Jobs (April 2020)
Roku – 200 Jobs (November 2022)
BuzzFeed – 180 Jobs (December 2022)
Netflix – 150 Jobs (May 2022)
VerSe Innovation – 150 Jobs (November 2022)
Calisto Media – 140 Jobs (July 2022)
Vox Media – 130 Jobs (January 2023)

The move set to cut 600 employees, amounts to 6 percent of Spotify’s staff.

The music streaming company is apparently looking to restructure in hopes of increasing efficiency, reducing costs and speeding up decision-making.

Overall, the layoffs continue a trend in the media industry, which has seen 10 different companies cut at least 130 jobs over the last two years.

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