![Why did Spotify lay off 17% of its employees?](https://allbuzznews.com/https://cdn.buzznews.ca/2023/12/Charli-XCX-GettyImages-1446196569-1.jpg)
Music streaming business Spotify will lay off 17% of its staff, equalling around 1,500 employees, in third round of job cuts in less than a yearhttps://t.co/wZYuVCkLgs
— CNN (@CNN) December 4, 2023
![](https://cdn.buzznews.ca/2023/12/Spotify-GettyImages-1580766321-1-1.jpg)
2023 #SpotifyWrapped has entered the chat. pic.twitter.com/QANRohMr9i
— Spotify (@Spotify) November 29, 2023
![](https://cdn.buzznews.ca/2023/12/Machine-Gun-Kelly-GettyImages-1388897072-1-1.jpg)
Employees affected by the redundancies will be informed this week and will receive an average of five months’ severance pay, paid vacation and medical cover during the redundancy period.