JAY Z's Tidal Down to 74 Problems After Laying Off 25 Employees

Only weeks into its relaunch as Tidal, JAY Z's new streaming service is already restructuring and "streamlining resources."

Swedish news site Breakit first reported and Tidal has now confirmed that CEO Andy Chen has left the startup and is being replaced by Peter Tonstad, the former CEO of its parent company Aspiro.

Additionally, 25 employees—or what the company is referring to as "redundancies"—have been laid off.

Tidal said in a statement that Tonstad "has a better understanding of the industry," noting that "he's streamlining resources" and eliminating "a handful of positions and refocused our company-wide talent to address departments that need support and cut redundancies."

For his part, Tonstad said the cuts were made "to ensure the platform continues to grow, and listeners can make a connection to their favorite artists. No one else is doing this."

So it looks like JAY Z is now down to 74 problems.