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Spotify to Reduce Staff by 17% in 2nd Layoff this Year

FILE PHOTO: Earphones are seen on top of a smart phone with a Spotify logo on it, in Zenica February 20, 2014. REUTERS/Dado Ruvic/File Photo
FILE PHOTO: Earphones are seen on top of a smart phone with a Spotify logo on it, in Zenica February 20, 2014. REUTERS/Dado Ruvic/File Photo
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Spotify to Reduce Staff by 17% in 2nd Layoff this Year

FILE PHOTO: Earphones are seen on top of a smart phone with a Spotify logo on it, in Zenica February 20, 2014. REUTERS/Dado Ruvic/File Photo
FILE PHOTO: Earphones are seen on top of a smart phone with a Spotify logo on it, in Zenica February 20, 2014. REUTERS/Dado Ruvic/File Photo

Spotify will reduce its total headcount by around 17% across the company, it said in an email on Monday, after laying off 6% of this staff in January citing higher costs.
In the latest third quarter, the company swung to a profit aided by price hikes in its streaming services and growth in subscribers in all regions, and forecast that its number of monthly listeners would reach 601 million in the holiday quarter.
CEO Daniel Ek told Reuters at that time the company was still focusing on efficiencies to get more out of each dollar.
On Monday, he said a reduction of this size will feel surprisingly large given the recent positive earnings report and its performance.
"We debated making smaller reductions throughout 2024 and 2025," CEO Daniel Ek said in a mail to employees.
"Yet, considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives."

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‘Wicked’ Director Wants Fans to See Characters Soar

“Wicked” director Jon M. Chu, Cynthia Erivo, and Ariana Grande attend as Universal Pictures presents a special New York City “Wicked” Screening at Metrograph on Dec. 03, 2024, in New York City. (Getty Images for Universal Pictures/AFP)
“Wicked” director Jon M. Chu, Cynthia Erivo, and Ariana Grande attend as Universal Pictures presents a special New York City “Wicked” Screening at Metrograph on Dec. 03, 2024, in New York City. (Getty Images for Universal Pictures/AFP)
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‘Wicked’ Director Wants Fans to See Characters Soar

“Wicked” director Jon M. Chu, Cynthia Erivo, and Ariana Grande attend as Universal Pictures presents a special New York City “Wicked” Screening at Metrograph on Dec. 03, 2024, in New York City. (Getty Images for Universal Pictures/AFP)
“Wicked” director Jon M. Chu, Cynthia Erivo, and Ariana Grande attend as Universal Pictures presents a special New York City “Wicked” Screening at Metrograph on Dec. 03, 2024, in New York City. (Getty Images for Universal Pictures/AFP)

Jon M. Chu, the director behind the musical film "Wicked", felt pressure from both himself and the rest of the team at Universal Pictures to make a masterpiece.

"For ourselves to fulfill the promise that we had to these characters when we first walked into this, I'm really excited," he told Reuters. "We love the show. We love these characters."

"Wicked", based on the Broadway musical hit that tells the story of a green-skinned student of magic who becomes the Wicked Witch of the West, pulled in $114 million at US and Canadian theaters, and $50.2 million in international markets during the Nov. 22 opening weekend.

Starring Ariana Grande and Cynthia Erivo, the movie is the first installment of a two-part film adaptation of the multi-Tony award-winning Broadway musical of the same name based on the 1995 novel by Gregory Maguire, which is based on the 1939 film "The Wizard of Oz."

The first installment of "Wicked: Part 1" was written by Winnie Holzman and Dana Fox, with songs from renowned composer Stephen Schwartz.

The fantasy-musical movie also stars Jonathan Bailey, Ethan Slater, Bowen Yang, Marissa Bode, Peter Dinklage and Michelle Yeoh.

The story follows Elphaba played by Erivo, an outcast young woman because of her green skin, and Galinda played by Grande, a popular young woman, who become friends at Shiz University in the mystical land of Oz. After meeting the Wonderful Wizard of Oz, their friendship is met with unforeseen challenges.

Chu views the film as an opportunity to normalize Hollywood's diverse talent, as the film includes actors of color, actors with disabilities, and other historically underrepresented groups.

Making the movie with "real" and "authentic people" in the lead roles was never a question for him.

"To me, it was normalizing this stuff. We don't even have to make it a huge conversation. It just is," he added.

Following the success of "Wicked," Chu teases that the second installment of the film will not disappoint.

"If you think you saw everything of Cynthia and you think you saw everything of Ariana, just wait, because the best is yet to come with them. It is juicy and yummy and all the things. I think people will be satisfied with where we end up."

"Wicked," distributed by Universal Pictures, will be available for at-home streaming that can be purchased digitally on December 31.