Spotify Technology S.A.SPOT pulled 11 original podcasts from the platform.
It will impact studios Parcast and Gimlet and involve less than 5% layoffs from Spotify’s podcast staff, TechCrunch reports.
Spotify will also reassign some staff to other podcasts.
Over the next couple of months, podcasts leaving the platform include Gimlet’s “How to Save a Planet,” “Crime Show,” “Every Little Thing,” as well as Parcast’s “Medical Murders,” “Female Criminals,” “Crimes of Passion,” “Dictator,” “Mythology,” “Haunted Places” and “Urban Legends.”
In the second quarter of 2023, Spotify will remove “Horoscope Today.”
Nicole Beemsterboer will become Gimlet’s new managing director, as per an internal note. Liliana Kim will become the new MD of Parcast.
The move will likely help strengthen its slate of original and exclusive (O&E) podcasts.
The report noted that Spotify appears to be weeding out the duds, possibly making room for the several upcoming O&E titles the company intends to announce in the weeks and months ahead.
In September, Alphabet IncGOOGGOOGL chief Sundar Pichai juggled tough questions from employees regarding cuts to travel and entertainment budgets, managing productivity, and potential layoffs.
Employees questioned why Google is “nickel-and-diming employees” by cutting travel and swag budgets despite record profits and substantial cash reserves as it did after the pandemic.
Price Action: SPOT shares closed higher by 0.93% at $92.25 on Thursday.
