Spotify to Cut 200 Jobs in Podcast Operations Restructuring

Spotify, a Swedish music streaming company, announced that it will cut 200 positions, representing approximately 2% of its workforce, as it streamlines its podcast operations.

The company said it will adopt a tailored approach for each podcast show and creator.

The decision was made after a strategic realignment of the company's global podcast vertical and other functions.

The company also posted a first quarter operating loss of €156 million ($167 million), attributed to higher headcount and changes in social charges.

Spotify has invested more than €1 billion ($1.1 billion) in podcasting, but the company has yet to prove the investment is bearing fruit.