Spotify to axe about 1,600 jobs to cut costs

The company employs around 9,300 people globally.

Spotify is to cut around 1,600 jobs (Andrew Matthews/PA)

Spotify is to cut almost a fifth of jobs at the music streaming business in a move affecting about 1,600 posts.

Bosses at the technology firm said in a note to staff that it will axe 17% of the workforce in a bid to be more efficient in the face of a growth slowdown.