On: Spotify will reduce total headcount by approximate...

[spaceywilly]

I would caution against drawing grand conclusions from these recent layoff rounds. Companies overhired during the pandemic, and now they are trimming that fat. It’s not necessarily a sign of any big strategic mistakes beyond “we hired too many people”

[jklinger410 → spaceywilly]

> Companies overhired during the pandemic, and now they are trimming that fat

Citation needed

[dlkf → jklinger410]

I think this is actually pretty well-established, eg https://news.crunchbase.com/layoffs/analysis-big-tech-pandem...

[rcbdev → jklinger410]

Anyone who had a LinkedIn profile in tech with open DMs during that time will probably confirm this.

[spaceywilly → jklinger410]

The original article

>ValueAct’s chief executive, Mason Morfit, said Spotify’s costs had “exploded” and that it was “built for the bubble”

[jklinger410 → spaceywilly]

COVID != "the bubble"