Tidal Cuts 25% of Staff as Jack Dorsey Pushes for Startup Mentality
Jack Dorsey has announced another round of layoffs at Tidal, emphasizing the need to operate "like a startup again." The restructuring will primarily affect product management and marketing functions, with potential cuts to engineering roles in the coming weeks.
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Photo Credit: Jack Dorsey by Mark Warner / CC by 2.0
Industry insiders estimate approximately 100 employees could be affected, representing roughly 25% of Tidal's workforce. This follows a previous 10% staff reduction in December.
A Tidal spokesperson confirmed the restructuring, stating the company will "focus on serving artists in the most meaningful way" with a streamlined approach to product development.
This marks the second major reorganization since Block, led by Dorsey, acquired Tidal for $300 million in 2021. Tidal continues to face fierce competition in the streaming market, where Spotify, Apple Music, YouTube Music, and Amazon Music collectively control over 97% of U.S. streaming subscriptions.
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