Spotify is latest big tech company to slash jobs
CBSN
Spotify said Monday it will lay off 6% of the music streaming company's workforce, making it the latest big technology company to announce a sizable reduction in payrolls as the U.S. economy slows.
Tech giants including Google-parent Alphabet, Amazon, Meta and Microsoft have moved to slash jobs in recent months ahead of a possible recession. In January alone, industry players have cut roughly 50,000 jobs, reversing a hiring spree that surged during the pandemic as millions of Americans moved their lives online.
Spotify has roughly 9,800 workers, so the layoff will eliminate nearly 600 jobs.
Around 1:30 a.m. on Tuesday, Baltimore's Francis Scott Key Bridge collapsed when a cargo ship lost power and crashed into it. Officials were able to prevent cars from driving onto the bridge just before the accident, but eight construction workers remained on the structure and plummeted into the river below. Here's how the events unfolded.