In the music industry, Universal Music Group plans to cut hundreds of jobs in Q1, primarily in its recorded music division, and Spotify announced 1,500 layoffs in December, amounting to around 17% of its workforce. Google CEO Sundar Pichai has warned staff to expect further job cuts as the company shifts investments to new areas such as AI. Despite these layoffs, the scale is smaller than the end of 2022 and beginning of 2023, when Meta and Google layoffs exceeded 10,000.
Key takeaways:
- The tech sector has laid off nearly 7,800 employees in January, with major companies like Amazon, Google, and Apple making significant job cuts.
- YouTube is reportedly making around 100 job reductions as part of a reorganization designed to streamline its operations and focus on new technologies like AI.
- Other major music companies like Universal Music Group and Spotify have also announced significant layoffs, with the latter shedding some 2,300 jobs in 2023.
- Google CEO Sundar Pichai has warned staff to expect further job cuts as the company shifts investments to new areas such as AI.