At the rise of modern technology, music has evolved right alongside. Exiting the early 2000s, music streaming services seemed to begin to circle as a new way to stream music. Spotify, arguably one the most renowned streaming services there is, was founded in 2008 and it has only been up from there. At the height of the COVID-19 Pandemic, music noticed an extreme peak in streams and activity. This led to services such as Spotify hiring more employees as their empire expanded. 

In the long run, this was not the best move for the multi-billion dollar platform. On Monday Jan. 23, 2023, they announced they would be letting go of approximately 6 percent of their workforce. This does not come as a surprise as it seems many companies are making this move entering the New Year. The Swedish based franchise states that the reason for these terminations revolve around seeking improved efficiency. They are planning to immensely slow down hiring and focus on their current prioritized positions.

Hopefully this will lead to a less overwhelming experience for employees and will lead to stronger success for Spotify. As music is at an all time peak, it is projected that the service will have yet another extremely successful year.