"Spotify CEO's Blunt Job Cuts and CFO Exit: A Revealing Spreadsheet"
Spotify CEO Daniel Ek announced that the company will be cutting around 1,500 jobs, or about 17% of its global workforce, and parting ways with its chief financial officer. Ek bluntly stated that the company had too many people "doing work around the work" and needed to become more productive and efficient. The decision comes as Spotify aims to bring spending in line with market expectations while continuing to fund growth, despite reporting a rare profit of $69 million in its most recent quarter. The move reflects a trend seen among Big Tech CEOs in America, emphasizing the need to eliminate fake work and focus on delivering real impact.