Staff Reduction: Tidal to Lay Off 10% of Employees

Tidal, a music streaming service, will lay off 10 percent of its staff as part of a cost-cutting strategy detailed by Block Inc. CEO Jack Dorsey last month. This move will affect around 40 employees from multiple departments, including Tidal’s playlist curation team. In early November, Dorsey announced that Block would cap its payroll at 12,000 employees, meaning it would need to lay off around 1,000 employees by the end of 2024. This news comes after Spotify announced it would cut 1,500 workers, or 17 percent of its workforce. Tidal recently raised its subscription prices following similar moves by Spotify, Apple Music, and Deezer, with the individual subscription now costing $11 per month. YouTube Premium also raised its price from $12 to $14 per month, and other video streaming services like Peacock, Paramount+, Hulu, and Max have all raised their prices as well.