Spotify, a music streaming platform has been reportedly shuttering down 11 original podcasts from its in-house studios, as a part of cost-cutting and layoffs which recently took place. ALSO READ: Apple Music reaches 100 million songs on the platform
It was reported in The Verge that less than 5 per cent of the company's staff on original podcasts will be either laid off or will be reassigned to new shows. ALSO READ: Airtel 5G Plus launched in 8 cities of India: All you need to know
Among the podcasts which got cancelled from the in-house studio's Gimlet and Parcast are
- How to Save a Planet
- Crime Showa
- Medical Murders to name a few
Also, in the second quarter of 2023, Spotify will remove to "Horoscope Today" aswell.
This is the first time Spotify has made a group cancellation of podcasts. The news comes in the wake of significant staffing changes at Spotify.
The Swedish music-streaming platform has more than 433 million monthly active users (MAUs).
In June, reports surfaced for the first time that Spotify is reducing new hiring by at least 25 per cent as tech companies navigate through volatile global conditions.
Spotify had more than 6,600 employees at the end of 2021, according to a filing with the US Securities and Exchange Commission (SEC).
Spotify earlier shut its lightweight listening app 'Spotify Stations'.
At an investors' presentation recently, Spotify's chief financial officer Paul Vogel said that they were "clearly aware of the increasing uncertainty regarding the global economy".
Inputs from IANS