Tidal Cuts 25% of Staff as Jack Dorsey Pushes for Startup-Style Restructuring

Tidal Cuts 25% of Staff as Jack Dorsey Pushes for Startup-Style Restructuring

By Marcus Hartley

November 17, 2024 at 10:16 PM

Tidal is undergoing another significant round of layoffs as CEO Jack Dorsey aims to restructure the company with a startup mindset. The streaming service will reduce its workforce across multiple departments, potentially affecting up to 100 employees—approximately 25% of its total staff.

Businessman speaking at podium

Businessman speaking at podium

Key changes include:

  • Complete elimination of product management and marketing functions
  • Reduction in design team size
  • Potential engineering team cuts in coming weeks
  • Focus on engineering and design moving forward

This marks Tidal's second major layoff in less than a year, following a 10% staff reduction in December. The company, acquired by Dorsey's Block for $300 million in 2021, continues to struggle against major competitors like Spotify and Apple Music, which together with YouTube Music and Amazon Music control 97% of U.S. music streaming subscriptions.

A Tidal spokesperson confirmed these changes, stating the company will "focus on serving artists in the most meaningful way" with a streamlined approach to product development.

Businessman checking phone with charts

Businessman checking phone with charts

Emmy Feldman in white shirt

Emmy Feldman in white shirt

Colorful YouTube gift jewel icons

Colorful YouTube gift jewel icons

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