Spotify to reduce new hiring by 25% amid global market volatility: Report

Swedish music streaming giant Spotify is reportedly reducing new hiring by at least 25 per cent as tech companies navigate through volatile market conditions globally.

According to media reports, Spotify is reducing hiring as recession fears mount.

It is, however, unclear which parts of the business will be most affected at Spotify, reports The Verge.

Spotify had more than 6,600 employees at the end of 2021, according to a filing with the US Securities and Exchange Commission (SEC).

Although the market may force the company to slow its ambitions, Ek said in the staff memo that the company will still add headcount.