The audio streaming service is expected to cut about 600 jobs, as part of its post-pandemic restructuring plan.

CEO Daniel Ek announced the restructuring in a message to employees, confirming reports leaked during the weekend. 

Spotify has a total workforce of around 9,800 people, according to its latest filing. Based on that number, the job cuts are expected to impact about 600 employees. 

Following on the lead of the main executives of Meta, Microsoft, Amazon and Alphabet – which have recently announced large-scale layoffs – Ek explained the decision as a result of changes in customer and advertisers' behaviours, as they have reduced spending in the face of a looming recession. 

“Like many other leaders, I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us,” Ek said.

“In hindsight, I was too ambitious in investing ahead of our revenue...