Spotify's layoff spree continues with a fresh dose of job cuts. The latest wave of pink slips has descended upon the podcast division of the company, bidding adieu to an additional 200 employees.

As indicated by a recent report from Reuters, the current series of Spotify layoffs equates to approximately 2 per cent of the company's worldwide workforce. Prior to this, the company had already undertaken a restructuring process that resulted in the elimination of around 600 jobs on a global scale.

According to the same report, Sahar Elhabashi, the head of Spotify's podcast division, stated in an internal memo that the company would be engaging in layoffs, affecting approximately 2 per cent of its workforce. 

The publication quoted Reuters as saying, "We are expanding our partnership efforts with leading podcasters from across the globe with a tailored approach optimised for each show and creator.”

According to another report, Spotify's layoffs occurred at a time when the company's investments in podcasting, which heavily emphasise audio content, came under scrutiny. Numerous analysts raised questions regarding when these investments would start generating substantial revenue.

The Reuters report on Spotify layoffs also mentioned that Elhabashi had stated that the company had "made the difficult but necessary decision to undergo a strategic realignment."

Furthermore, the company announced that it had merged its Parcast and Gimlet studios into a unified division called Spotify Studios, responsible for producing Spotify originals.

Amidst the global economy navigating the aftermath of an economic downturn, Spotify and numerous other companies have implemented layoffs. This occurrence coincides with a period when experts anticipate the trend to persist throughout 2023, although there are also expectations of gradual recovery among some businesses.