A huge tech giant has announced laying off more than 200 workers in New York State. The company cites economic reasons for the layoffs. Could this be an indicator of where the economy is headed?

The Silicon Roundabout In Old Street
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LONDON, ENGLAND - MARCH 15: People work at computers in TechHub, an office space for technology start-up entrepreneurs, near the Old Street roundabout in Shoreditch which has been dubbed 'Silicon Roundabout' due to the number of technology companies operating from the area on March 15, 2011 in London, England. Entrepreneurs using TechHub are predominantly product-oriented tech companies who rent desk space and use the fast wifi. The relatively low rental rates and proximity to media and internet companies has made the area close to the roundabout a prime location for IT firms and web entrepreneurs. (Photo by Oli Scarff/Getty Images)

Google submitted a notice to New York State that it plans to fire over 200 employees at 4 locations in New York City. While Google is headquartered in California, it has multiple locations in the NYC area.

The total number of affected workers is 225. The layoffs will begin on April 1, 2024, and end on May 27, 2024.

The impacted sites are:

- 85 Tenth Avenue, New York, NY 10011
11 employees will be let go

- 76 Ninth Avenue, New York, NY 10011
181 employees will be let go

- 75 Ninth Avenue, New York, NY 10011
30 employees will be let go

- 29 Eleventh Avenue Pier 57, New York, NY 10011
3 employees will be let go

Last year, in January, Google cut its workforce in New York by almost 900.

Massive Streaming Service Plans To Layoff Hundreds Of New Yorkers

Hundreds of workers at a popular streaming service in New York will be out of a job in 2024. The company recently submitted a notice to New York State about the looming layoffs.

Photo by Yarenci Hdz on Unsplash
Photo by Yarenci Hdz on Unsplash

Spotify Plans To Lay Off More Than 750 Employees

As everyone is sharing their Spotify Wrapped for 2023, the company is planning to let go of 755 employees in New York.

Spotify is a Swedish audio streaming and media services provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. It is one of the largest music streaming service providers, with over 590 million monthly active users, including 226 million paying subscribers, as of September 2023.

In 2022 its revenue was 11.7 billion EUR. The company had 9,241 employees as of September 2023 in 15 offices. Spotify has more free users at 361 million, than paying users at 226 million.

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According to the notice it submitted to New York State, the 755 employees will be terminated from two office - 150 Greenwich Street, New York NY, 10007, and 41 Flatbush Ave., Floor 7, Brooklyn NY, 11217. The majority of layoffs are expected to happen on March 4, 2024. Of the 755 employees, 24 will be laid off in phases on March 31, 2024, and August 25, 2024. The company cites the reason for the layoffs as economic.

According to CNBC,

Spotify reported a surprise profit for the third quarter — its first quarterly profit in a year and a half.

In June of 2023, the company laid off 200 people, according to CNBC. Combined with the newly announced cuts, the company will have terminated approximately 10 percent of its workforce by August 2024. And who knows, more cuts could be planned at other offices.

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