Spotify To Cut 1,500 Jobs—Here’s How To Cope With Cold, Harsh Layoffs During The Holiday Season

Every December, around the holidays, Spotify unleashes its viral marketing campaign, “Spotify Wrapped,” in which users share their top results for their most-listened music and podcasts. This year, amid the trend, the streaming platform called it a wrap for more than 1,500 of its employees, as the company announced Monday its plan to cut 17% of its staff in its third round of layoffs. Wall Street applauded the news, sending stock prices soaring 7%. Cutting jobs around the holiday season is widely perceived as cold, brutal and lacking basic compassion. Workers are left jobless and without a steady paycheck and are concerned about their lack of health insurance. Instead of looking forward to some time to relax and enjoy being with their family and friends, the downsized employees must now scramble to write a résumé and seek new employment in a challenging environment for white-collar professionals. Executives may consider this a way to cut costs and save money, while others view it as a company showing its true colors. It’s clear that when organizations say, “We’re family,” it is not true. Grandma getting fired before Christmas doesn’t sound like something a loving family would do to someone they sincerely care about. Companies that let go of workers at this time of year will likely see backlash and lose respect within the marketplace, making it hard to recruit and retain people... https://www.forbes.com/sites/jackkelly/2023/12/06/spotify-to-cut-1500-jobs-heres-how-to-cope-with-cold-harsh-layoffs-during-the-holiday-season/ -Jack Kelly, Forbes #layoff #severance

Spotify To Cut 1,500 Jobs—Here’s How To Cope With Cold, Harsh Layoffs During The Holiday Season

Forbes