According to reports Jay Z‘s new streaming service TIDAL has fired its CEO and 25 of its employees. The CEO was Andy Chen,
who was also the CEO of Aspiro, the company Jay Z took over when he
acquired TIDAL. The company has however released a statement claiming
the lay offs were not as a result of anything sinister but due to
“streamlining” and “redundancies.” Read their statement below.
“TIDAL’s new interum [sic] 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.”
According to reports Jay Z‘s new streaming service TIDAL has fired its CEO and 25 of its employees. The CEO was Andy Chen,
who was also the CEO of Aspiro, the company Jay Z took over when he
acquired TIDAL. The company has however released a statement claiming
the lay offs were not as a result of anything sinister but due to
“streamlining” and “redundancies.” Read their statement below.
“TIDAL’s new interum [sic] 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.”
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