Spotify Consolidates Podcast Division, Lays Off 2% of Workforce

Spotify is cutting 2% of its employees, including staff at Gimlet Media and Parcast studios.
The job cuts are part of a strategic restructuring of Spotify's podcast division.
Gimlet Media and Parcast will be merged into Spotify Studios.
Although podcast downloads have increased over the past year, investment in the podcast industry overall has slowed.
Spotify aims to refocus its podcast efforts through the consolidation of its acquired podcast studios.