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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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Charles Dolan, HBO and Cablevision Founder, Dies at 98

A sign is displayed at Cablevision headquarters in Bethpage, NY, on Sept. 17, 2015. (AP)
A sign is displayed at Cablevision headquarters in Bethpage, NY, on Sept. 17, 2015. (AP)
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Charles Dolan, HBO and Cablevision Founder, Dies at 98

A sign is displayed at Cablevision headquarters in Bethpage, NY, on Sept. 17, 2015. (AP)
A sign is displayed at Cablevision headquarters in Bethpage, NY, on Sept. 17, 2015. (AP)

Charles F. Dolan, who founded some of the most prominent US media companies including Home Box Office Inc. and Cablevision Systems Corp., has died at age 98, according to a news report.

A statement issued Saturday by his family said Dolan died of natural causes, Newsday reported late Saturday.

"It is with deep sorrow that we announce the passing of our beloved father and patriarch, Charles Dolan, the visionary founder of HBO and Cablevision," the statement said.

Dolan's legacy in cable broadcasting includes the 1972 launch of Home Box Office, later known as HBO, and founding Cablevision in 1973 and the American Movie Classics television station in 1984. He also launched News 12 in New York City, the first 24-hour cable channel for local news in the US, Newsday reported.

The Cleveland native, who dropped out of John Carroll University in suburban Cleveland, completed the sale of Cablevision to Altice, a European telecommunications and cable company, for $17.7 billion in June 2016.

Dolan, whose primary home was in Cove Neck Village on Long Island in New York, also held controlling stakes in companies that owned Madison Square Garden, Radio City Music Hall and the New York Knicks and New York Rangers sports franchises, Newsday reported.

James L. Dolan, one of his sons, was the Cablevision CEO from 1995 until the 2016 sale to Altice. He now is the executive chairman and CEO of Madison Square Garden Sports Corp. The company owns the Knicks and Rangers, among other properties, according to the MSG Sports website.

A statement from MSG Entertainment, MSG Sports and Sphere Entertainment recalled Dolan's "vision."

"Mr. Dolan's vision built the foundation for the companies we are today, and as a member of our Boards he continued to help shape our future. The impact he made on the media, sports, and entertainment industries, including as the founder of Cablevision and HBO, is immeasurable," the statement said. "We do not expect this to directly or indirectly change ownership by the Dolan family."

Newsday, which Cablevision purchased in 2008, also came under the control of Altice with the sale. Patrick Dolan, another son of Charles Dolan, led a group that repurchased 75% of Newsday Media Group in July 2016. Patrick Dolan then purchased the remaining 25% stake in 2018.

At the time of his death, Charles Dolan and his family had a net worth of $5.4 billion, Forbes reported.

Dolan was a founder and chairman emeritus of The Lustgarten Foundation in Uniondale, New York, which conducts pancreatic cancer research.

He is survived by six children, 19 grandchildren and five great-grandchildren. His wife, Helen Ann Dolan, died in 2023, Newsday reported.