Posted 12/4/2023, 3:20:19 PM
Spotify Lays Off 17% of Workforce Despite Profitability; Hawaiian Airlines Accepts $1.9B Buyout Offer
- Spotify plans to lay off 17% of its workforce, about 1,500 employees, in its third round of layoffs this year despite recent profitability
- Layoffs aim to cut costs and boost margins as economic growth slows amid rising interest rates
- Hawaiian Airlines parent company agrees to $1.9B acquisition offer from Alaska Air, sending shares surging
- Coinbase stock climbs nearly 8% as Bitcoin price rises back above $41K
- Uber gains over 5% as pending addition to S&P 500 index raises profile among investors