Spotify is planning another round of layoffs. This time, the job cuts will affect Spotify’s podcast division as part of a corporate reorganization.
In particular, Spotify plans to merge Parcast and Gimlet Studios.
Spotify promises that employees who are affected by the layoffs will get “generous severance packages, including extended Healthcare coverage and immediate access to outplacement support.”
In 2019, Spotify acquired some popular podcast networks, such as Parcast and Gimlet Media. This move into first-party content was an expensive one as the company spent around $200 million for Gimlet Media and $56 million for Parcast.