Reports indicate that the music streaming app Tidal is gearing up for another round of layoffs, marking the second time this year. Jack Dorsey, the CEO of Block and current owner of Tidal, has informed employees of this plan.
The former CEO and co-founder of Twitter stated that this round of layoffs is aimed at restructuring Tidal’s organization back into startup mode, with fewer employees to expedite operations and decision-making. Those impacted in this round of layoffs include the entire product management and marketing teams, as Dorsey disclosed that Tidal will now leverage engineering and design to drive the organization, leading to the elimination of these departments.
Tidal has not disclosed the exact number of employees affected in this round of layoffs, but reports suggest it could be around 100 individuals, which accounts for 25% of the company’s workforce.
TLDR: Tidal is undergoing another round of layoffs, with CEO Jack Dorsey aiming to streamline operations and decision-making by restructuring the organization and reducing the workforce. Approximately 100 employees, or 25% of the company, are expected to be impacted.
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