Posted on 01/23/2023 11:59:34 AM PST by ChicagoConservative27
Music streaming service Spotify announced Monday that it is slashing hundreds of jobs in the latest round of layoffs in the tech sector.
Spotify said it would cut 6 percent of its staff, or about 600 workers, based on its last earnings report.
“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. In hindsight, I was too ambitious in investing ahead of our revenue growth,” CEO Daniel Ek wrote in a statement.
Ek announced the job cuts along with a handful of other changes to the business, including how its products and business teams are organized.
(Excerpt) Read more at thehill.com ...
These people should all learn to code.
Damn I’m glad I didn’t pick a fly by night type of field. These folks are going never getting out of mom’s basement....I hear burger King is hiring.
“Google is laying off 10,000 I heard”
Microsoft is too along with many others. No one is actually saying why this is happening across the board. Sure a small recession might play a role, but my bet? All the new AI tech that is on the verge of taking over. Content writers, Journalist, Marketers, Web Designers, and such should be worried too.
Companies are adopting and looking for ways to replace any jobs they can to technology because this generation does not want to work.
Google and Salesforce claim they over hired
Correct. Perhaps the reason they're being laid off is because they can't. Not really.
Quite seriously, most businesses could cut a significant percentage of their employees. There’s easily a good 10% of employees at many medium to large businesses that are counterproductive. They cost more than they produce and make it difficult for the truly productive to do their jobs. I get the sense that a lot of businesses are looking for any excuse to cut employment levels.
The Big Tech companies employees should have been able to predict this.
Their jobs were secure only until they could be replaced by an AI computer program.............
Our son is in Silicon Valley. Probably half of his friends (early 30s) have been laid off from tech companies so far. They are surviving multiple rounds of layoffs.
Jobs have to be made up so certain HR checkbox people can be employed without destroying the company.
Especially in certain industries.
A month ago (two months?), it was suggested that Musk showed all these companies how fat their were and that they didn’t need all of their employees. I think that’s a big part of this.
>Google is laying off 10,000 I heard
Before:
https://www.youtube.com/watch?v=7sGBLFi_WCI
After:
https://www.youtube.com/watch?v=gkHJfXYTJLg
What equipment is that? Part of an oil rig?
Yep. All the stuff you see on that drilling floor.
Not just Tech companies.....it’s like the businss world is ightening the reins so they can guide their companies for what’s perceived as coming down the road... Doesn’t help war drums are sounding louder.
Would have liked to have learned how to run some of that equipment.
I was never in oil country.
I am sure Musk Twitter slaughter partially showed the way. But Microsoft is dumping billions in OpenAI as are other companies. The billions they are dumping into AI far outweighs the saving from eliminating employees.
The Industrial Revolution is going to replaced by Artificial Intelligence Revolutions/Robotics. Big business wants to get away from undependable humans (today’s youth).
I was talking to a young man whose dad is in the oil fields in North Dakota right now. It was 40 below zero on the oil rigs a month ago with a harsh wind. We owe those anonymous people an incredible debt for keeping our houses warm and vehicles running.
Yes, it’s a combination of AI, Musk leading the way, and economic recession.
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