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Wed, Oct 30, 2024, 21:30
- The tech executive said the company needs to operate with a "much smaller team," Fortune reported, citing an internal email.
TIDAL is expected to fire several employees, Fortune has reported. The publication cited a leaked internal email from Jack Dorsey, CEO of Block, the streaming service's parent firm.
The email, seen by Fortune and allegedly sent to staffers on Wednesday, said TIDAL will "part ways with a number of folks." The platform, once owned by rapper Jay-Z, needs to operate "like a startup again," meaning departments must function with "much smaller teams," Dorsey warned.
Product management and product marketing functions will be "removed" entirely, he said. Moreover, the size of the design team and "foundational roles" will be reduced, he added, as per Fortune's report. "We will consider reducing engineering over the next few weeks as we have more clarity around leadership going forward," the email continued.
It's unclear how many employees these cuts stand to impact as Dorsey's email didn't contain exact numbers. Insiders told Fortune that as many as 100 people could lose their jobs. In December 2023, TIDAL fired 10 percent of its workforce.
TIDAL has yet to respond to Resident Advisor's request for comment. We'll continue reporting more on this story as it unfolds.