2023 started with all major tech companies announcing major layoffs to reduce their headcount amidst an economic slowdown. While Google and Facebook laid off thousands of employees, Spotify axed 600 people from their jobs as a part of an organizational restructuring after the company's operating expenses grew at twice the rate of its revenue in 2022. The music streaming service is ending the year on a similarly somber note, announcing a 17% reduction in its headcount.
