Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Spotify CEO Daniel Ek has raked in nearly $119 million in a stock sale after recently overseeing the layoff of 1,500 employees — a reduction that Ek himself acknowledged created a “significant” challenge” for the streaming company.
This week, Ek sold 400,000 share units in Spotify, with a total market value reported as $118.8 million, according to an SEC filing. This marks the fourth time in the past 12 months that Ek has cashed in some of his Spotify stock, according to a“Another significant challenge was the impact of our December workforce reduction,” he reportedly said during an earnings call.
Spotify is facing accusations that it being stingy with royalties after it changed the way it compensates artists by “bundling” certain subscription plans — a move that doesn’t sit well with creatives..
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spotify CEO says layoffs brought 'more' disruption than expected but were 'right strategic decision'Spotify Chief Executive Daniel Ek described the job cuts on Spotify’s earnings call as a 'significant challenge' that the Sweden-based company contended with.
Read more »
CEO Talks: L.L. Bean CEO Talks Importance of Summer, U.S. Market and Tote BagsL.L. Bean's fiscal 2023 sales were $1.7 million, a slight decline compared to $1.8 million for the previous fiscal year.
Read more »
Salvation Army plans to expand downtown San Diego shelter with $119M renovationThe $119 million renovation and expansion to the Salvation Army's Downtown space would include 220 short-term housing beds, sober living beds and affordable…
Read more »
Donald Trump rakes in over $1 million after first day in New York hush money trialFormer President Donald Trump raised over $1 million in campaign funds after his first court day in his New York hush-money case.
Read more »
House GOP campaign arm rakes in over $33 million to kick off 2024 election battlesHouse Republicans' campaign arm, the NRCC, is announcing its fundraising haul for the first few months of 2024 as the GOP fights to keep its majority.
Read more »
Larry Hogan rakes in $3 million in first two months of his Maryland Senate campaignRepublican Larry Hogan raised more than $3.1 million since launching his candidacy for an open Senate seat in Maryland on Feb. 9, he revealed Wednesday.
Read more »