Spotify stated earlier this month that it was laying off 17% of its workers. This is just the third round of layoffs that Spotify has had this year.
Given the volume of layoffs that have occurred recently in the tech industry, this shouldn’t be shocking; nonetheless, it is remarkable that this round of layoffs occurred right after Spotify reported its first profitable quarter since 2021.
Employers ought to be keeping employees on while business is good, right?
Not always.
All the information you need to determine how feasible it is to work for a firm can be found in its business model. Regrettably, the majority of the tech industry’s widely adopted business models don’t support steady, long-term employment.
This essay will examine claims made by Spotify’s CEO to support the company’s treatment of its employees. It shows how C Suite executives view the future of work and how this will probably influence other economic sectors in the years to come.
Tech has always employed more people than it needed. This has led to the creation of a false bubble around the jobs it provides.
Business Insider revealed during the summer that several of the Meta employees who were recently laid go had actually been hired to perform fictitious jobs. As stated by a former employee of Meta:
“I was kind of hired into a really weird position where they immediately put me in a group of people that weren’t working,” the employee said.Levy stated in a Saturday-posted Tik Tok. “To find work, you had to fight.”
Levy expressed her opinion in the video — which has received over 870,000 views — that Meta was hiring people in order to keep them from being hired by other organizations.
Tech went on an overhiring binge after the epidemic with the intention of keeping workers out of the hands of rival companies. If an employee worked for Meta, it meant they were unable to use their skills to advance a rival company, such as Google.
This made it simple for tech companies to acquire human capital, especially when paired with inexpensive finance. Consequently, there is a sense of an…
