Music streamer Tidal will have its second big layoff in a year, and it might dwarf the last one, Fortune reports. Jack Dorsey, CEO of Block (Tidal’s parent company since 2021) announced the organization will return to the style of a start-up, with fewer employees. “So we’re going to part ways with a number of folks on our team,” Dorsey told staff in a note. Block also owns Cash App, After Pay and BitKey, among others.
“We’re going to lead with engineering and design, and remove the product management and product marketing functions entirely,” Dorsey’s note to Tidal employees continued. “We’re reducing the size of our design team and foundational roles supporting Tidal, and we will consider reducing engineering over the next few weeks as we have more clarity around leadership going forward.” Tidal previously laid off about 40 people across multiple departments in December 2023.
Dorsey didn’t announce the exact number of staff getting laid off, but sources within the company speculate it might be 100 individuals — one-fourth of the company’s employees. “We have made some internal changes to our Tidal team to focus on serving artists in the most meaningful way,” a Tidal spokesperson said in a statement. “This involved the elimination of some roles across our business and design teams. We are going to be smaller, focus on fewer things, and move with a relentless approach to product development.” Tidal notably removed its free tier for users in March.
Source: www.engadget.com