Spotify’s chief financial officer will step down next year, according to the music streaming service, just days after it announced its third round of layoffs for 2023.
In a statement announcing CFO Paul Vogel’s departure, CEO Daniel Ek said that the two had “come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.”
Spotify said this week that it would be axing 17% of its global workforce, citing the need to slash costs and become profitable. About 1,500 people will lose their jobs, a spokesperson confirmed.
Spotify’s chief financial officer will step down next year, according to the music streaming service, just days after it announced its third round of layoffs for 2023.
In a statement announcing CFO Paul Vogel’s departure, CEO Daniel Ek said that the two had “come to the conclusion that Spotify is entering a new phase and needs a CFO with a different mix of experiences.”
Spotify said this week that it would be axing 17% of its global workforce, citing the need to slash costs and become profitable. About 1,500 people will lose their jobs, a spokesperson confirmed.
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