Spotify has declined to say whether the company it recently acquired from entrepreneurs Mark Little and Aine Kerr will be impacted by today’s announcement of 600 job cuts across the firm.

Kinzen, co-founded by the two former journalists and Storyful executives, had 22 people at the time of its acquisition. It is currently being integrated into Spotify’s operations.

Mr Little and Ms Kerr took senior content safety roles in the world’s biggest music streaming company as part of the acquisition deal last October.

In the company announcement today, Spotify CEO Daniel Ek said that the company had hired too many people in anticipation of a stronger economy.

“Like many other leaders, I hoped to sustain the strong tailwinds from the pandemic and believed that our broad global business and lower risk to the impact of a slowdown in ads would insulate us,” he wrote.

“In hindsight, I was too ambitious in investing ahead of our revenue growth. And for this reason, today, we are reducing our employee base by about 6pc across the company. I take full accountability for the moves that got us here today.”

“To offer some perspective on why we are making this decision, in 2022, the growth of Spotify’s OPEX outpaced our revenue growth by 2X. That would have been unsustainable long-term in any climate, but with a challenging macro environment, it would be even more difficult to close the gap.”

As part of the changes, the company’s head of content, Dawn Ostroff has left the firm.

The company’s head of research and development, Gustav Soderstrom, becomes the new head of product while Alex Norstrom has been appointed chief business officer.

Last week, Microsoft and Google announced global jobs cuts which are expected to affect the Irish operations of the tech giants.

Other tech multinationals to announce layoffs in Ireland include Meta, Salesforce, Twitter and Coinbase.