Spotify Lays Off 1,500 as Revenues Climb

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Spotify Lays Off 1,500 as Revenues Climb

https://gizmodo.com/spotify-lays-off-1500-revenues-climb-works-1851069988

Spotify suddenly started making a profit in the past few months, but CEO Daniel Ek said "being lean is... a necessity."

Spotify Lays Off 1,500 as Revenues Climb

I've seen this exact headline about over a dozen tech companies in the last few months, particularly in the games industry. How do we make sense of it? I am not accustomed to seeing companies that are doing well, as they all claim to be, discharging swathes of their labor force.