Storytel

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Storytel laid off 80 employees representing approximately 13% of its workforce on 2024-01-24.

Swedish audiobook giant Storytel laid off 100 employees in March 2022, representing over 10% of its workforce, as part of a strategic shift. This move followed a year of losses attributed to aggressive and costly international expansion into 25 markets that underperformed. Founder and CEO Jonas Tellander had also recently stepped down. The company, which has around 2 million subscribers, is now refocusing on fewer, more mature markets like the US to improve profitability, while its strong Nordic operations continue to perform well.