San Francisco, Oct 7 (SocialNews.XYZ) Leading music streaming platform Spotify is shuttering 11 original podcasts from its in-house studios, which will reportedly result in some layoffs at the company.
Less than 5 per cent of Spotify's staff on original podcasts will be laid off or reassigned to new shows, a company spokesperson told The Verge.
Among the podcasts being cancelled from in-house studios Gimlet and Parcast are 'How to Save a Planet', 'Crime Showa', and 'Medical Murders'.
In the second quarter of 2023, Spotify will say goodbye to "Horoscope Today".
This is the first time Spotify has made a group cancellation of podcasts. The news comes in the wake of significant staffing changes at Spotify.
The Swedish music-streaming platform has more than 433 million monthly active users (MAUs).
In June, reports surfaced for the first time that Spotify is reducing new hiring by at least 25 per cent as tech companies navigate through volatile global conditions.
Spotify had more than 6,600 employees at the end of 2021, according to a filing with the US Securities and Exchange Commission (SEC).
Spotify earlier shut its lightweight listening app 'Spotify Stations'.
At an investors' presentation recently, Spotify's chief financial officer Paul Vogel said that they were "clearly aware of the increasing uncertainty regarding the global economy".
Source: IANS
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