Spotify to lay off 1,500 employees

A trading post sports the Spotify logo on the floor of the New York Stock Exchange, April 3, 2018. Spotify said it's cutting 17% of its global workforce as it tries to slash costs while focusing on profitability. [AP Photo]

Spotify says it is planning to lay off 17% of its global workforce, amounting to around 1,500 employees, following layoffs earlier this year of 600 people in January and an additional 200 in June.