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Spotify to cut six per cent of workforce

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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.

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Finance expert empowers his social audience with accessible wealth tips

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The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

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It takes a village: coordinated financial teams prove paramount to maximising wealth

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The pursuit of wealth is often faced by significant challenges including debt, lifestyle costs, and burnout – so what methods can help overcome these challenges?

Maximising financial opportunities involves a suite of tasks, from leveraging favourable loan rates, strategic tax planning, and coordinated financial advising.

Mark Wyld from MW Wealth joins to discuss more. #featured

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Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

#featured

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