Tidal Cuts 10% of Staff Amid Block's Downsizing Strategy

The layoffs, affecting around 40 employees, are part of a wider strategy by parent company Block to cap its workforce at 12,000 by the end of 2024.

Music streaming service Tidal is laying off more than 10% of its staff, impacting around 40 people across various departments, including the curation team that builds playlists.
The layoffs are part of a wider strategy by parent company Block, led by CEO Jack Dorsey, to cap its total employee base at 12,000 by the end of 2024.
Block, previously known as Square, had over 13,000 employees at the end of 2023, indicating that more layoffs across the company are expected.
The layoffs at Tidal follow similar cuts at other music streaming companies, including Spotify, which recently announced it was reducing its staff by 17%.
The tech industry has faced significant job losses in the past year, with job cuts exceeding 240,000, a 50% increase from the previous year.