Spotify to cut staff as soon as this week: Report

23/1/2023 6:57:00 AM

Spotify to cut staff as soon as this week: Report

Spotify to cut staff as soon as this week: Report

Spotify Technology is planning layoffs as soon as this week to cut costs, Bloomberg reported on Sunday (Jan 22), joining the likes of Alphabet Inc,

who have cut thousands of jobs recently.Copy to clipboard https://str.LinkedIn Memory chip maker Western Digital Corp and Japan's Kioxia Holdings Corp are in advanced talks for a possible merger which will involve a dual-listing, Bloomberg News reported on Friday.LinkedIn Singapore-based start-up Zilingo is set to enter liquidation, according to Bloomberg.

The report, which cited sources, said that the number of jobs being eliminated was not specified.Spotify did not immediately respond to a Reuters' request for comment.The number of job cuts wasn’t specified.Tech firms shed jobs last year as a demand boom during the pandemic rapidly fizzled, and layoffs have continued this year with companies looking to rein in costs to ride out the economic downturn.Under the plan being discussed, Western Digital would spin off its flash business and merge it with Kioxia, creating a publicly traded company in the United States, Bloomberg said citing people familiar with the matter, adding that the company would also plan a second stock listing in Japan.In the last few weeks, Google parent Alphabet said it would eliminate 12,000 jobs, while Microsoft said it would eliminate 10,000.The music streaming giant has about 9,800 employees, according to its third-quarter earnings report.Amazon's layoff round will impact more than 18,000 roles.At its height, the firm had raised more than US$300 million from some of the region’s most prominent investors, including Temasek Holdings and Sequoia Capital India, the regional arm of the Silicon Valley firm that backed Apple and Google.

Other tech companies like Facebook-parent Meta and Elon Musk's Twitter laid off thousands late last year.com, Google parent Alphabet Inc.Western Digital and Kioxia did not immediately respond to a request for comment from Reuters.Related:.

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Spotify planning layoffs as soon as this week to cut costsThe company has about 9,800 employees, according to its third-quarter earnings report. Read more at straitstimes.com.

Western Digital, Kioxia in advanced talks for merger - Bloomberg NewsMemory chip maker Western Digital Corp and Japan's Kioxia Holdings Corp are in advanced talks for a possible merger which will involve a dual-listing, Bloomberg News reported on Friday.A combined Kioxia-Western Digital would control a third of the NAND flash market, putting it on par with South Korea’s

Temasek-backed Zilingo poised to go into liquidation: ReportThe board of the Singapore-based fashion technology start-up has appointed EY Corporate Services as its provisional liquidator, sources told Bloomberg. Hell Great job 👏 Well done 👏

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