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'Too ambitious': Spotify cuts 6% of employees after operations costs outpace revenue growth

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TORU YAMANAKA/AFP via Getty Images

Spotify CEO Daniel Ek announced in a blog post that the company would be shedding 6% of its workforce after the company's growth outpaced its revenue.

The 1,000-word memo eventually dropped the bomb in the sixth paragraph to let employees know Spotify had made "the difficult but necessary decision to reduce [its] number of employees."

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