Music streaming platform TIDAL has laid off 40 members of staff, according to a leaked Slack conversation obtained by Resident Advisor. The layoffs affected staff across Brazil, Germany, Poland, Spain, Norway, and the US. The conversation also indicates a shift towards tech initiatives, moving away from content creation related to music, labels, distributors, and artists.
Parent company Block-now, also known as Square, announced last month that it would be laying off 10% of its staff, putting around 1,300 members of staff out of work, which included TIDAL’s 40 job cuts. The Jack Dorsey-owned multinational conglomerate had acquired TIDAL from rap icon Jay-Z for $297 million in 2021.
Likewise, music licensing service Songtradr also announced job cuts at Bandcamp, another company it acquired. The editorial team at Bandcamp was among the areas of the company worst hit, with Bandcamp’s Senior Editor expressing disgust on Twitter.
CEO Daniel Ek confirmed Spotify would also have to make “difficult decisions” and lay off staff, citing the need to cut costs amidst a global economy where growth is slowing. 1,500 jobs globally, equivalent to 17% of its workforce, are being cut from the payroll
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