Spotify made a profit, but is firing 1500 staff to keep that profit going

Spotify turned its first quarterly profit since 2021, squeaking out a modest 32 million euro profit out of 226m subscribers and 574m monthly users, claiming around 30% of the market for music streaming against some stiff competition in Apple who have huge advantages Spotify never will. The bad news is Spotify will sack 17% of its workforce (around 1500 people), the third round of mass lay-offs this year, as investors want a return after years of funnelling low-interest money into this thing. Here's an easy way to get more money out of me - high resolution audio! It's likely a placebo but damn it, it's a placebo I want. Where's Spotify Hi-Fi at Mr. Ek!?