Music streaming firm Spotify Technology has said it plans to cut 6% of its workforce, or roughly 600 jobs, adding to a glut of layoffs in the technology sector as companies prepare for a possible recession.
The company also said its chief content and advertising business officer, Dawn Ostroff, will depart as part of a broader reorganisation.
Spotify, which had about 9,800 full-time employees as of 30 September, said it expects to incur about €35-45m in severance-related charges.
Spotify's move comes at a time when tech companies are facing a demand downturn after two years of pandemic-driven growth during which they had hired aggressively.
Sweden-based Spotify has seen advertisers pull back on spending, mirroring a trend seen at Meta and Google parent Alphabet, as rapid interest rate hikes and the fallout from the Russia-Ukraine war pressure the economy.
The company had said in October that it would slow down hiring for the rest of the year and into 2023.
Its shares more than halved in a dismal 2022 for tech stocks.
Last year Spotify bought Ireland-based Kinzen, a company that has helped it identify harmful content on the platform.
Kinsen was founded by Mark Little and Áine Kerr.
Financial details of the sale were not disclosed.