Spotify to Slow Hiring Plans, Cites Economic Uncertainty
- Audio service will cut hiring growth by about 25%, CEO says
- Company says it will still add to its staff this year
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Spotify Technology SA will slow hiring growth by 25%, the latest sign of how fears of a recession are weighing on the economy.
The world’s largest on-demand audio service has been on a hiring spree for years, adding more than 2,000 employees between 2019 and 2021 for a total of 6,617 at the end of last year. The company will continue to add headcount in the coming months, but it will adjust its plans in light of macroeconomic factors, Chief Executive Officer Daniel Ek said in a note to staff Wednesday.