Spotify’s significant layoffs in 2023, affecting 2,300 employees, had a greater-than-expected impact on the company’s daily operations. In an earnings call, CEO Daniel Ek acknowledged the disruption but expressed confidence in regaining momentum. Spotify reported a $210 million profit in the first quarter of 2024, compared to a loss in the same period of 2023. The company remains focused on monetization in the near term, with plans to prioritize user growth in the future.