> ## Content Index
> Fetch the complete content index at: https://www.hypebot.com/llms.txt
> Use this file to discover other available public pages before exploring further.

# Spotify stock up Monday AM as Wall St. reacts to layoffs [NYSE: SPOT]
- URL: https://www.hypebot.com/spotify-stock-surges-as-wall-street-reacts-to-major-layoff-news/
- Published: 2023-12-04T15:32:18.000Z
- Updated: 2023-12-04T21:55:04.000Z
- Description: 1500 Spotify staffers are losing their jobs just before Christmas, and on Monday morning Wall Street rewarded CEO Daniel Ek’s cost-cutting move with a strong rally. In a memo to. Continue reading [https://www.hypebot.com/hypebot/2023/12/spotify-stock-surges-as-wall-street-reacts-to-major-layoff-news
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Streaming, music, music industry, musician, musicians, Spotify, #wp, #wp-post, #Import 2026-01-21 09:44

1500 Spotify staffers are losing their jobs just before Christmas, and on Monday morning Wall Street rewarded CEO Daniel Ek’s cost-cutting move with a strong rally.

In a [memo to staff Monday](https://www.hypebot.com/spotify-layoffs-hit-17-of-global-workforce/), Ek said that Spotify is[ laying off 17% of its global workforc](https://www.hypebot.com/spotify-layoffs-hit-17-of-global-workforce/)e, or 1500 of an estimated 9000 employees. This round follows a 6% or [600-person reduction in January](https://www.hypebot.com/read-ceo-eks-full-letter-to-spotify-staff-announcing-major-layoffs-organizational-changes/), with 200 more let go in June.

As of 10:30 AM ET on Monday, Spotify stock was up 7.9% or $14.29 to ade at $195.00.

#### MORE: [Spotify cuts 1500 jobs in third round of layoffs this year](https://www.hypebot.com/spotify-layoffs-hit-17-of-global-workforce/)

*Bruce Houghton*