Spotify has decided to layoff 17% or about 1,500 of its employees. The company is trying to cut costs and adjust for a period of slower growth. The decision was announced in an internal memo.
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Spotify boss Daniel Ek has said that some music that uses AI will be allowed on the platform. He said, however, AI that impersonates artists is problematic and will not be allowed.
Following the likes of Google, Microsoft, and Amazon, Spotify has also announced its own round of layoffs. The company will let go of 6% of its workforce as a way to significantly reduce costs.
The company's CEO believes that in the near future, a large chunk of radio advertising will move online to streaming services like Spotify. The firm is currently focusing on podcasts and artist ads.
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