Major music streaming platform Spotify is shutting down 11 original podcasts from its in-house studio, leading to some layoffs at the company.
A company spokesperson told The Verge that less than 5 percent of Spotify’s staff on the original podcast will be fired or rerouted to new shows.
Podcasts being canceled from the in-house studio Gimlet and Paracast include “How to Save a Planet”, “Crime Showa” and “Medical Murders”.
In the Second Quarter of 2023, Spotify will Say Goodbye to ‘Aaj Ka Horoscope’.
This is the first time Spotify has group canceled a podcast. The news comes in the wake of significant staffing changes in Spotify.
The Swedish music-streaming platform has over 433 million monthly active users (MAUs).
In June, reports first surfaced that Spotify was cutting new recruits by at least 25 percent.
According to filings with the US Securities and Exchange Commission (SEC), Spotify had more than 6,600 employees at the end of 2021.
Spotify Had Earlier Shut Down Its Lightweight Listening App ‘Spotify Stations’.
In a recent investors presentation, Spotify’s Chief Financial Officer Paul Vogel said he was “clearly aware of the growing uncertainty about the global economy.”