https://fortune.com/europe/2024/04/23/spotify-earnings-q1-ceo-daniel-eklaying-off-1500-spotify-employees-negatively-affected-streaming-giants-operations/ Spotify CEO Daniel Ek surprised by how much laying off 1,500 employees negatively affected the streaming giant’s operations ... four months on, it seems he and his executives weren’t prepared for how tough filling in for 1,500 axed workers would be. ... the company failed to hit its guidance on profitability and monthly active user growth. Ek didn’t shy away from the obstacles that stopped the streamer from hitting some of its targets this year... Ek blamed operational difficulties linked to staffing for the group missing its earnings target to start the year. At the same time, the footprint left behind by those employees was bigger than Ek and his executives anticipated. “Another significant challenge was the impact of December workforce reduction,” Ek said on an investors call following Spotify’s Q1 earnings release. “Although there’s no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated. It took us some time to find our footing ...” Ek didn’t elaborate on what aspects of operations were most affected by the layoffs.
It’s almost as if certain positions are more important than just revenue, especially when you need people to keep things running and take the load off your team members. I firmly believe that companies will eventually see the negative consequences of forcing employees to work 3 jobs for the price of 1, especially when they refuse to hire.
Lmao. How exactly do they think the ship runs if not for their employees with reasonable workloads?
This is gold
It’s almost like laying off slows down velocity and brings down morale
I am guessing it’s bcoz they fired all the non-political, hardworking competent workers who didn’t have time to manage upwards to be honored to make those lists for him 🤣.
so easy to get clicks and views from the working sheep class. they eat up stories about the underdog winning against the big bad capitalist
Cute observation by the CEO. That's why he is CEO.
These fucking morons only do layoffs because others are doing it. They are not intelligent or independently thinking people, just parroting. Humans in general are stupid and just copy each other - oh well what can you do.
What an insight Sherlock
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No shit