Read the full memo Spotify's CEO sent employees announcing it would cut 17% of its staff: 'Being lean is not just an option but a necessity'

• Spotify is reducing about 17% of its headcount – around 1500 employees. 
• CEO Daniel Ek told employees in a memo they would get an email from HR in two hours.
• Two employees told Business Insider they had anticipated the layoffs were looming. 

Spotify is laying off about 17% of its workforce — or about 1500 employees. 

The music streaming giant said in a blog post Monday announcing the cuts that "being lean is not just an option but a necessity."