Spotify announces another round of major job cuts

The move is part of a wider trend as tech companies seek savings amid a slower-than-expected economy.

Spotify has announced a third major round of staff cuts this year.

The music streaming giant said on Monday that it will lay off about 1,500 employees, or 17 percent of its headcount, to bring down costs. The announcement follows the release of 600 staff in January and a further 200 in June.

The move fits with a growing trend in the tech sector, with economic conditions remaining more…