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

(page 4) 15 comments
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[–] [email protected] 44 points 7 months ago (1 children)

Couple things bug me about this.

He’s composing there are still support roles instead of roles exploring high impact opportunities. But does he know the value of those support roles on keeping other teams focused?

Tech is so shitty lately. Get people to build something for you with massive revenue per employee. Pre IPO? Dilute their shares for another round of investment cash. Post IPO? Just fire ‘em, declare its the year of efficiency, and maybe say it’s your fault but not accept any responsibility or pay reductions or reduced rewards.

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[–] [email protected] 13 points 7 months ago (2 children)

What’s Spotify?

Some kinda laundry thing?

/s

[–] [email protected] 16 points 7 months ago

It’s an app for finding your dog.

[–] [email protected] 6 points 7 months ago

Yeah it’s one of those color bleach pens you use to get coffee stains out, no source.

[–] [email protected] 4 points 7 months ago

Oh no. Anyway,

[–] [email protected] 347 points 7 months ago* (last edited 7 months ago) (5 children)

Next time axe the executives and keep the staff.

Most executives I've met can't read emails and just point to one of two numbers and say "higher/lower!" while dreaming of KPI's that don't improve anything and solely exist to stagnate wages

[–] [email protected] 90 points 7 months ago* (last edited 7 months ago) (3 children)

This is what the pharma giant, Bayer is trying right now kinda. They just told everyone to manage themselves.

[–] [email protected] 65 points 7 months ago (15 children)

Germans rejecting bureaucracy? What's the world coming to?

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[–] [email protected] 85 points 7 months ago (20 children)

I have finally stopped using Spotify.
Now using TIDAL and absolutely loving it. It's like what Spotify used to be, loads of great recommendations, much better audio quality, a bit cheaper, and I believe the artists get a better cut.
It's too good to last, but I'm going to enjoy it while it does

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

If i wasn't getting spotify premium for free then I'd seriously look into getting Tidal.

[–] [email protected] 49 points 7 months ago (4 children)

I absolutely love Tidal as well. Was a long time Spotify subscriber, but their UI/UX decisions, especially for their desktop client, finally frustrated me enough to switch. Had almost no issues moving my playlists over, have a shuffle which actually shuffles, still have daily recommendation playlists, and my favorite part -patch notes; I know what's happening and why. They actually listen to user feedback and make updates based on it.

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

frantically taking notes — anyone not Spotify

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[–] [email protected] 12 points 7 months ago
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