https://archive.is/L0BdY

Summary:

* Spotify’s Layoff Impact: CEO Daniel Ek was surprised by the significant operational challenges following the layoff of 1,500 employees.

* Financial Performance: Despite achieving record profits of €168 million and revenue growth, Spotify missed its targets for profitability and user growth.

* Investor Reaction: Shares increased by over 8% after the earnings report, reflecting investor confidence.

* 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?

Sometimes I'm just baffled, I really am.

I was curious what jobs were impacted. Looks like plenty of SWE were fired:

From layoffs.fyi: https://docs.google.com/spreadsheets/d/1KPL87R3veJ6HaQeHdkG1...

"Although there’s no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated."

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."

I'm blown away that company _needs_ more than 1,500 employees in the first place...