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Swedish Podcast Company Acast Laying Off 15% of its Staff

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Photographer: Miljan Zivkovic/iStockphoto/Getty Images

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Hello, and welcome back to another Thursday. As always, I’m at, and if you haven’t yet signed up for this newsletter, please do so here.

Let’s get right to some breaking news. 

Acast, the Sweden-based podcast network and hosting service, plans to lay off 15% of its staff, or approximately 70 people, in the coming weeks, according to an all-staff memo obtained by Bloomberg.

Chief Executive Officer Ross Adams writes that because of the “extended recession,” the company needs to be “more in step with the future, and market demands, on the path to profitability.”