TIDAL lays off 10% of its staff
Block, the umbrella company that owns the streaming platform, has announced cuts across its workforce
TIDAL is reportedly laying off 10% of its staff as part of a range of cuts across the umbrella company that owns it, Block.
In addition to TIDAL, the cuts at the company, which is owned by former Twitter CEO Jack Dorsey, will affect Square and Cash App, according to Bloomberg. Approximately 40 staffers across multiple departments at TIDAL will be let go.
Jeff Benjamin, a former member of TIDAL's editorial team, confirmed on X (formerly Twitter) that he was among the employees who were laid off, and added that other editorial staffers had also been let go.
A spokesperson at TIDAL has declined to comment on the exact number of layoffs but did confirm they were going ahead.
"As part of Block and its recent announcement to cap the number of employees at the company to focus on business growth, TIDAL has carefully considered how to right-size our team to ensure we are able to continue to build and invest in critical areas of the business," a statement by the spokesperson reads. "We do not take these decisions lightly, and we are sincerely grateful for the contributions of our impacted teammates."
The layoffs come just days after Spotify CEO Daniel Ek announced that 1,500 staff members were being made redundant.
Earlier this year, TIDAL tested a new DJ "sessions" feature.
