TIDAL plans to lay off additional employees, its second round of cuts in less than a year.
“We've made some internal changes to our team at TIDAL to focus on serving artists in the most meaningful way,” a TIDAL spokesperson said Bulletin board in a statement. “This involved eliminating some roles in our business and design teams. We're going to be smaller, focus on fewer things, and move with a relentless approach to product development.”
In a memo to staff received LuckCEO Block Jack Dorsey he wrote that he wants the company to operate “like a startup again.”
“We're going to be parting ways with a lot of people on our team,” Dorsey continued. “We will lead the way with engineering and design, and completely eliminate the product management and product marketing functions. We are reducing the size of our design team and the foundational roles that support TIDAL, and will consider reducing engineering in the coming weeks as we have more clarity about leadership going forward.”
These layoffs follow a 10% staff cut the company made in December 2023. “TIDAL has carefully considered how to properly shape our team to ensure we are able to continue to build and invest in critical areas of business”, a company spokesperson he said in a statement last year. “We do not make these decisions lightly and are sincerely grateful for the input of our affected teammates.”
Similar cuts have been common across the music and tech industries over the past 24 months, hitting Universal Music Group, Warner Music Group, Spotify, Downtown Music, BMG, SoundCloud and more.
“What you're seeing, in general, is that the music industry is maturing,” said the president of Downtown Music Peter van Rijn he said Bulletin board in January. “Digital growth is still there, but it's slowing down.”
from our partners at https://www.billboard.com/pro/tidal-layoffs-2024/