Spotify (NYSE:SPOT)
According to a report from TechCrunch, Spotify (NYSE:SPOT) has pulled 11 of its own original podcasts off its platform and has begun the process of laying off 5% of its podcast workforce. As a result, Spotify stock declined.
According to the report, which cited a person who was acquainted with the situation, SPOT will also shift workers to other programs. How to Save a Planet, Crime Show, Haunted Places, and Urban Legends are just a few of the podcasts that will be taken off the site.
According to the news portal, Spotify (NYSE:SPOT) will also discontinue the Horoscope Today podcast sometime during the second quarter of the following year.
Gimlet, one of the in-house podcast studios owned by SPOT that is being impacted, will soon have a new managing director in the form of Nicole Beemsterboer. Parcast, one of the other in-house podcast studios owned by SPOT, will soon have a new managing director named Liliana Kim.
A request for comment was sent to Spotify, but the company did not immediately reply.
This past week, SPOT announced that it had purchased Kinzen, an organization located in Dublin, Ireland, as part of its efforts to strengthen platform safety.
Featured Image- Unsplash @ Thibault Penin
Author Shariq Khan 
