“In hindsight, I was too ambitious in investing ahead of our revenue growth.
I take full accountability for the moves that got us here today.”
Taken together, they paint a picture of the corporate world bracing for a broader global economic downturn.
In addition to the layoffs, Ek noted Tuesday that Spotify will reorganize some of its top leadership.
Dawn Ostroff, who was Spotify’s chief content and advertising business officer, will be leaving the company.
Norstrom will take on her responsibilities for content, advertising and licensing.
To help with the transition, Ostroff will stay on as a senior adviser in the short term.
