Spotify became the latest large technology company to annouce layoffs (about 6 % of ca 9,800 employees). The percentage size of layoffs is in the same range as Microsoft/Alphabet, but a bit lower than the ca 10 % layoffs done by other billion dollar revenue companies that have low profitability or are unprofitable (e.g. Saleforce, Twilio etc).
At this point it is still not clear how many of the layoffs will hit Stockholm. Given Spotify’s size in Stockholm, significant layoffs will likely impact the startup ecosystem (exactly how is to be seen, I can see both positive and neutral scenarios).
