Tidal cuts its staff again.
The layoffs could affect up to 100 people.
The streaming music platform Tidal has announced a reduction in its workforce, according to a statement from a company spokesperson. The message confirmed the elimination of certain positions in the business and design teams.
Recently, a memo from Jack Dorsey, CEO of Block, the parent company of Tidal, was leaked, in which it was mentioned that the company "will part ways with a number of people" from its team. Dorsey specified that the size of the design team and the key roles supporting Tidal will be reduced, and additional cuts in the engineering area are being considered in the coming weeks as more clarity is gained regarding the direction of leadership.
Although the statement did not specify the number of layoffs, sources reported that it could be around 100 employees, which represents about 25% of Tidal's remaining workforce. Last December, the platform had already laid off 10% of its staff, and a significant restructuring at Block has been considered since July.
Earlier this year, Tidal merged its two high-fidelity music plans into a single subscription priced at $10.99 per month, resulting in a decrease in the price of its more expensive plan. Additionally, the company established FLAC as the default audio format for stereo and added support for Dolby Atmos, providing an immersive sound experience.
