Spotify to lay off 1500 workers

Spotify, recently exposed by none other than Weird Al for how little it pays artists, is responding by paying less to workers, too: it's laying off 1,500 of them, totaling 17% of its workforce.

Chief executive Daniel Ek said he had made the "difficult" decision with economic growth slowing "dramatically". He added he understood the cuts would be "incredibly painful for our team". "I recognize this will impact a number of individuals who have made valuable contributions", Mr Ek said. "To be blunt, many smart, talented and hard-working people will be departing us."

The cuts come after the company announced €65m (£55.7m) profits for the summer financial quarter.

The chart above is from a while back, but I love that it shows how to find a long tail on any distribution by playing Rubik's cube with the axes.