TIDAL plans to put off further staff, its second spherical of cuts in lower than a yr.
“Now we have made some inside adjustments to our TIDAL group to deal with serving artists in probably the most significant manner,” a TIDAL spokesperson informed Billboard in an announcement. “This concerned the elimination of some roles throughout our enterprise and design groups. We’re going to be smaller, deal with fewer issues, and transfer with a relentless strategy to product improvement.”
In a memo to employees obtained by Fortune, Block CEO Jack Dorsey wrote that he needs to the corporate to operate “like a startup once more.”
“We’re going to half methods with quite a few of us on our group,” Dorsey continued. “We’re going to steer with engineering and design, and take away the product administration and product advertising and marketing features solely. We’re lowering the dimensions of our design group and foundational roles supporting TIDAL, and we’ll take into account lowering engineering over the subsequent few weeks as we’ve got extra readability round management going ahead.”
These layoffs comply with a ten% employees minimize that the corporate made in December, 2023. “TIDAL has rigorously thought of how you can right-size our group to make sure we’re in a position to proceed to construct and put money into vital areas of the enterprise,” an organization spokesperson stated in an announcement final yr. “We don’t take these selections evenly, and we’re sincerely grateful for the contributions of our impacted teammates.”
Comparable cuts have been a standard sight throughout the music and tech industries within the final 24 months, hitting Common Music Group, Warner Music Group, Spotify, Downtown Music, BMG, SoundCloud, and extra.
“What you do see, basically, is the music business is maturing,” Downtown Music president Peter van Rijn informed Billboard in January. “The digital development continues to be there, but it surely’s slowing down.”
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