However, Ek claimed todays decision was not a step back but a strategic reorientation.
While weve made worthy strides, as Ive shared many times, we still have work to do.
Economic growth has slowed dramatically and capital has become more expensive.
Spotify CEO Daniel Ek at The Future of Audiobooks Event on October 3Bryan Bedder/Getty Images for Spotify
Spotify is not an exception to these realities.
In a blog post company update, Ek addressed the timing of the cuts.
We debated making smaller reductions throughout 2024 and 2025.
While these generally helped Spotify grow, the company was now in a very different environment.
Focus would now turn to delivering for our key stakeholders creators and consumers.
In two words, we have to become relentlessly resourceful.
Embracing this leaner structure will also allow us to invest our profits more strategically back into the business.
With a more targeted approach, every investment and initiative becomes more impactful, offering greater opportunities for success.
This is not a step back; its a strategic reorientation.
Lean doesnt mean small ambitions; it means smarter, more impactful paths to achieve them.
