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Tidal CEO Walks, Staff Laid Off

Less than a month since its public launch, Spotify alternative Tidal owned by Jay-Z and backed by the most mega stars in the game including Beyonce and Madonna, experiences lay offs. Andy Chen, CEO of Tidal’s parent company Aspiro Group also walked away from the company.

Billboard got a hold of a statement directly from Tidal:

“Tidal’s new interim CEO is Peter Tonstad ­ a former CEO of parent company Aspiro Group. He has a better understanding of the industry and a clear vision for how the company is looking to change the status quo. He’s streamlining resources to ensure talent is maximized to enhance the customer experience. We’ve eliminated a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies. Tidal”s offices globally will remain and grow: we are already hiring for several new positions now. We’re excited about our future and what’s in-store for fans who want the best listening experience.”

Reports out there initially suggested Tidal laid off 25 employees, but Tidal denies this report, stating lay offs have been less than half.

This is definitely a negative smear in Tidal’s still high-riding wave—not to mention low subscriber rates. But to Tidal’s credit, most companies search for ways to avoid staff redundancies and in our still crippled global economy, people lose jobs everyday at even more established global brands.

But Tidal’s already in front of this, reducing the bad press by offering cold calls directly from boss Jay-Z and Jack White. Wait! None from queen Beyonce? Guess that would come at an even higher subscriber rate.

The company is also launching Tidal X which will reward active listeners with a chance to attend private concerts. Reportedly J.Cole will be the first artist to perform here in New York.

Geneva S. Thomas

Geneva S. Thomas

Geneva is the founder of Jawbreaker, which she plans on turning into an intergalactic all-girl army that will someday storm the streets of the world in studded bras and Tom Ford boots. She recently took up archery and collects more books than shoes.