<a href="https://archive.is/L0BdY" rel="nofollow">https://archive.is/L0BdY</a><p>Summary:<p>* Spotify’s Layoff Impact: CEO Daniel Ek was surprised by the significant operational challenges following the layoff of 1,500 employees.<p>* Financial Performance: Despite achieving record profits of €168 million and revenue growth, Spotify missed its targets for profitability and user growth.<p>* Investor Reaction: Shares increased by over 8% after the earnings report, reflecting investor confidence.<p>* Long-Term Strategy: Despite short-term issues, Spotify believes the layoffs were necessary for long-term profitability.
How does a CEO not understand the employment needs of his company? Oh, right, he's playing stock price games with the investors and doesn't give a shit about his employees.
Wait, so if you fire the people who do the work, the work doesn't get done?! Well I never. Who'd have thought it?<p>Sometimes I'm just baffled, I really am.
I was curious what jobs were impacted. Looks like plenty of SWE were fired:<p>From layoffs.fyi: <a href="https://docs.google.com/spreadsheets/d/1KPL87R3veJ6HaQeHdkG1BPbKY-K-G4Gr7y0m7oMRCqU/htmlview" rel="nofollow">https://docs.google.com/spreadsheets/d/1KPL87R3veJ6HaQeHdkG1...</a>
<i>"Although there’s no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated."</i><p>Absolute double-speak. Translation "Although it was clearly a dumb thing to do we are now fucked and full of bitter regret and embarrassment. Also, check out my shades."