Money

Spotify to cut six per cent of workforce

Published

1 year ago

January 24, 2023

ticker NEWS

Spotify is set to to cut 6,000 jobs, or six per cent of its workforce, adding to the massive layoffs in the tech space over recent weeks

The Stockholm-based company had benefited from pandemic lockdowns because more people were looking to be entertainment, when they were stuck at home.

Ek indicated that the company’s business model – which had long focused on growth – had to evolve, and bring costs in line.

“To bring our costs more in line, we’ve made the difficult but necessary decision to reduce our number of employees,” Ek wrote.

Spotify made “considerable effort” to rein in the costs over the past few months, “but it simply hasn’t been enough,” he said.

Spotify saw businesses pull back on advertising as factors including soaring interest rates pressured global demand.

Layoffs have since picked up steam over the past few weeks, with Alphabet, Microsoft and Amazon axing jobs recently.

Money

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending