Spotify, the audio streaming platform, said on Monday that it planned to lay off about 200 people, including workers at the popular podcast studios Gimlet Media and Parcast.
The 2 percent cut to the company’s work force is part of a “strategic realignment” of the podcast division, Sahar Elhabashi, the head of podcasts at Spotify, said in a memo to Spotify employees on Monday.
Since early 2019, the number of podcast shows on Spotify has grown to more than five million from about 200,000, Ms. Elhabashi said in a revised version of the memo that Spotify posted on its website.
That period was a boom era for the podcasting industry, with media companies making large investments to expand their offerings. Spotify, which is based in Stockholm, bought Gimlet for $230 million in 2019 and The Ringer for about $200 million in 2020, sending a signal that it had broadened its ambitions beyond music streaming. This flurry of spending has cooled in the last year, with companies cutting podcast jobs and curbing budgets.