this post was submitted on 24 Apr 2024
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When Spotify announced its largest-ever round of layoffs in December, CEO Daniel Ek hailed a new age of efficiency at the streaming giant. But four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be.

The music streamer enjoyed record quarterly profits of €168 million ($179 million) in the first three months of 2024, enjoying double-digit revenue growth to €3.6 billion ($3.8 billion) in the process.

However, the company failed to hit its guidance on profitability and monthly active user growth.

Edit: Thanks to @[email protected] for the paywall-free link: https://archive.ph/wdyDS

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[–] [email protected] 13 points 7 months ago (9 children)

Oh, I wasn't aware of that.

For the last couple of years I've been "flirting" with Spotify. It would offer me 3 months of premium for the price of one, I would take it and cancel immediately so I don't forget.

Then lived the happy pirate life for six months or so, and Spotify would come in with the offer. Last time the price was higher but I said what the hell..

Now with this post I was about to uninstall, but I read some comments about services that transfer your playlists, so first things first :))

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[–] [email protected] 14 points 7 months ago

People with no concept of what "institutional memory" means have no business running a business.

[–] [email protected] 51 points 7 months ago (2 children)

Another psychopathic CEO doesn't really understand how things work. How many times have I encountered these clueless little dictators? When you are working for one they constantly fuck up and always blame someone else.

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[–] [email protected] 52 points 7 months ago (1 children)

Oh no, a leopard ate my face!

[–] [email protected] 8 points 7 months ago (1 children)

A leopard are his own face

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[–] [email protected] 3 points 7 months ago

This guy and Elon should get together and compare notes.

[–] [email protected] 156 points 7 months ago (5 children)

It's almost like employees are more than just numbers on a spreadsheet. Who knew.

[–] [email protected] 19 points 7 months ago (1 children)

“People are PEOPLE? That’s not what I wanna hear…”

[–] [email protected] 18 points 7 months ago* (last edited 7 months ago) (1 children)

/ AI removes Depeche Mode from streaming playlist /

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[–] [email protected] 1 points 7 months ago

Not as surprised as I was to learn they had 1500 people in the first place.

[–] [email protected] 51 points 7 months ago (1 children)

Gasp - it’s almost like these jet setting CEOs just don’t know that much about their day to day operations. Maybe they should spend less time tongue fucking each other for being “captains of industry” and more time doing the actual job they are paid obscenely for. They are supposed to ensure the company is running properly, not just push up the stock price.

[–] [email protected] 9 points 7 months ago (1 children)

Actually that’s a really good point. Apart from any glaring ethical concerns one might have about this kind of thing, it’s not a terribly good way to run a business. Man do these folk ever like finding a nice new way to shoot themselves in the foot 🤦‍♂️

[–] [email protected] 14 points 7 months ago (1 children)

If you as a CEO who has been running a company, need to fire 1500 people, your resignation should follow that decision or at the very least a few of your c suite and management team need to be removed with them.

Talk about gross mismanagement.

I'd give a new CEO a pass on this tbh. But if you've been running the company so poorly that a sizeable chunk of your employees need to be fired youve failed at your job. You should go.

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[–] [email protected] 45 points 7 months ago (1 children)

Oh, so that's why app is getting shittier.

[–] [email protected] 18 points 7 months ago* (last edited 7 months ago)

For real. I’ve been having issues with playlists loading correctly especially in Car mode. It made my likes unusable for a week.

Pay your employees! I know you can afford to fix issues.

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