Call Us: (852)37026770  |  Email Us: [email protected]

Spotify Announces Hiring Slowdown, But Will Boost Headcount

Facebook
Twitter
LinkedIn

Spotify Announces Hiring Slowdown, But Will Boost Headcount

Spotify is the most recent tech firm to announce a hiring slowdown. Nonetheless, the streaming large intends to nonetheless add to its total headcount by the tip of the 12 months.

In an e-mail to staff, Spotify CEO Daniel Ek mentioned he meant to “gradual that tempo [of hiring] and be a bit extra prudent with absolutely the stage of latest hires over the subsequent few quarters.” (Hat tip to Crunchbase for reproducing that e-mail.)

Spotify joins Coinbase, Microsoft, Uber, Netflix, and different tech corporations in both slowing or freezing hiring. However in response to a Crunchbase evaluation, it’s late-stage startups which have absorbed the most important blows when it comes to current slowdowns and layoffs, for a few easy causes. First, these startups tend to burn rapidly via capital, and infrequently haven’t begun to provide substantial revenues; thus, they’re extra delicate to financial situations. Second, their hiring strikes are sometimes achieved preemptively, permitting the corporate to retain additional cash for no matter lies forward.

All through the U.S., although, demand for technologists stays excessive. Employers posted some 623,627 tech positions in Could, representing a year-over-year improve of 52 p.c; unemployment price for tech occupations hit 2.1 p.c, a slight uptick from earlier months. Firms in all industries nonetheless want every kind of technologists to maintain their operations working.

And as Ek talked about in his e-mail, Spotify continues to rent. Software program engineers at Spotify could make beneficiant salaries, in response to a crowdsourced breakdown from ranges.fyi (and sure, crowdsourcing isn’t at all times essentially the most scientific manner of figuring out salaries; nonetheless, because the ranges introduced on ranges.fyi are likely to correspond with different sources, we’re inclined to belief them). For instance, entry-level engineers could make $131,875 in annual wage, mixed with $22,312 in inventory and $2,812 in bonuses. By the point they ascend to the workers engineer stage, they’ll make $235,533 in wage, $69,600 in inventory, and a $4,200 bonus (if no more).

11 Ways An ATS Can Save Your Company Money

11 Ways An ATS Can Save Your Company Money

Digital Team
On August 13, 2022

Whether or not you’re going via price range cuts or scaling up, you’re most likely being requested to do extra with much less. To generate income, your organization wants folks, and your ATS is

How Will the Biden Administration Actually Tweak the H-1B Visa?

How Will the Biden Administration Actually Tweak the H-1B Visa?

Digital Team
On August 13, 2022

The Biden administration nonetheless desires to tweak the H-1B program. U.S. Citizenship and Immigration Companies (USCIS) has a much-delayed proposal (now scheduled for Could 2023) that would alter the definition of the H-1B employer-employee relationship,

Texas, California Compete for Most Tech Job Demand

Texas, California Compete for Most Tech Job Demand

Digital Team
On August 11, 2022

In the beginning of 2022, it appeared like Texas had a variety of tech-hiring momentum behind it. Dallas, Houston, and Austin have been attracting important quantities of tech-related funding, and firms have been transferring to

How Immersive Tech Will Play a Role in the ‘New’ HR

How Immersive Tech Will Play a Role in the ‘New’ HR

Digital Team
On August 9, 2022

Many industries haven't any alternative however to undertake newer tech developments. For some, it’s been a bitter capsule to swallow, however those that can embrace adaptation and modernization will see that it’s very important for

PREV NEXT
Your Recruitment Partner in Hong Kong

Are you
looking for a CHANGE?

Are you
HIRING?