(Hypebot) — Spotify CEO Daniel Ek seemed to blame workers and another executive for this week’s layoffs that saw 1500 or 17% of the streamer’s global workforce shown the door.
In a memo to staff obtained by Business Insider, Ek wrote:
“Today, we still have too many people dedicated to supporting work and even doing work around the work rather than contributing to opportunities with real impact. More people need to be focused on delivering for our key stakeholders – creators and consumers. In two words, we have to become relentlessly resourceful.”
With his comments. Ek joined the ranks of tech executives who blame “fake work” – work that doesn’t serve customers, grow the company, or contribute directly to the bottom line – for recent massive layoffs.
“In Spotify’s early days, our success was hard won,” said Ek. “We had limited resources and had to make the most of every asset.”
CFO exits
Alongside Ek’s unusually blunt comments about his own workers that were sent directly to his remaining workers was a diss at departing CFO Paul Vogel, completely devoid of the usual “thank you, Paul, for your service” comments.
Spotify needs a chief financial officer “with a different mix of experiences,” said Ek, who knows how to keep spending “in line with market expectations” while funding growth.
Perhaps not coincidently, just hours before his departure was announced, an SEC filing showed that Vogel had exercised 47,859 stock options worth $9.4 million at one of the highest prices Spotify has seen in two years.
H/T: Business Insider
