News

Spotify Adds To Big Tech Layoffs With Highest Job Cuts Since 2000

The popular music streaming company has seen its share price fall by nearly half over the past 12 months.

Published

2 years ago

January 24, 2023

Nour Nasir

spotify adds to big tech layoffs with highest job cuts since 2000

Getty Images

Swedish music streaming giant, Spotify, is set to cut 6% of its entire workforce — a move which will amount to laying off around 600 employees.

The cuts come as part of efforts to increase efficiencies in a “challenging macro environment”, the tech company announced on Monday, January 23rd. Spotify reported net losses of $181 million in the third quarter of 2022, compared with a $2 million profit the year before, with share prices falling by a monumental 49% in a single year.

Spotify was forced to take the decision after soaring costs and growing operational expenditure began to rapidly outpace revenue generation, and followed the firing of 38 staff from Gimlet Media and Parcast podcast studios in October, which are also owned by the Swedish streaming service.

“In hindsight, I was too ambitious in investing ahead of our revenue growth,” admitted chief executive Daniel Ek. “That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap”.

Also Read: The Best Video Streaming Services In The Middle East

Ek went on to confirm that chief content officer Dawn Ostroff would also be leaving the company, whose workforce numbered 9,800 employees in mid-2022.

A total of 97,171 jobs were axed in the technology sector in 2022, a 649% increase over 2021 and the highest since the fateful dot-com crash of the early 2000s. Spotify’s layoffs mirror those of other corporations in the technology sector, including Meta, Microsoft, Amazon, and Google’s Alphabet. Part of those cuts can be explained by the extra hires required during the height of the Covid pandemic, though rising interest rates and growing fears of a recession are also influencing the somber atmosphere.

News

Samsung Smart Glasses Teased For January, Software Reveal Imminent

According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.

Published

2 days ago

December 4, 2024

Nour Nasir

samsung smart glasses teased for january software reveal imminent

Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.

As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.

Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.

Additionally, prior to revealing the prototype, Samsung plans to introduce…

— Jukanlosreve (@Jukanlosreve) December 3, 2024

The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.

A Collaborative Software Effort

Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.

Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.

Feature Set And Compatibility

The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.