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Spotify Technology said on Thursday Chief Financial Officer Paul Vogel will step down from his role next year March end after an eight-year long stint at the music streaming company.
Vogel’s departure follows a rough week at the company. Spotify has said it would lay off around 1,500 employees, or 17 per cent of its workforce, after letting 600 of its staff go in January, and 200 more in June.
Shares of the company fell 2.3 per cent to $191.35 in extended trading.
The company said on Thursday it has launched an external search for a successor, and in the meantime Ben Kung, vice president of financial planning and analysis, will take up the role.
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