Spotify to axe 1,500 jobs

Spotify to axe 1,500 jobs amidst cost-cutting measures

Spotify, the Swedish music-streaming giant, has declared a significant reduction in its workforce, slashing 1,500 jobs, which accounts for approximately 17% of its employees. The decision, termed "difficult" by CEO Daniel Ek, came from the company's aim to curtail expenses amidst a notable slowdown in economic growth.