Tidal lays off more than 10% of staff following Spotify’s headcount cuts

In a move to streamline operations and reduce costs, Block Inc., the parent company of music streaming service Tidal, has announced a series of layoffs across its various platforms. Approximately 40 Tidal employees were affected on Tuesday, with the majority of cuts coming from the playlist curation team. The  Block Inc.CEO, Jack Dorsey, has indicated that he intends to put "constraints on the company's growth”, and the layoffs are a part of his larger austerity plan.

With a total of 1,300 job losses expected across Block, the company's workforce will be significantly diminished. 

The layoffs at Tidal are a reflection of a larger trend in the music streaming sector rather than one-off events. The primary rival of Tidal, Spotify Technology SA, announced a 17% reduction in staff earlier this week.  

Recording artist Jay-Z once owned Tidal, and Jack Dorsey was the CEO of what was once Twitter, but is now known as the X. Block Inc. runs Tidal in addition to payment platforms Square and CashApp.

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