Jay Z’s streaming music service Tidal has just fired its CFO Chris Hart and COO Nils Juell, according to European news reports. The layoffs come at a turbulent time for Tidal, with high-profile releases giving the service some much-needed attention, while acquisition rumors continue to emerge.
The reasons behind the layoffs are murky at best. Swedish news site Breakit reported Tuesday that Hart was let go over a dispute on the way the company reports streaming numbers. Tidal on the other hand tried to paint the move as part of a bigger restructuring, which also involved relocating some key resources: Tidal has also moved its operations and accounting departments to its New York office, the company told The Verge.
High-profile ousters are nothing new for Tidal: The company hired its third CEO in nine months last December.
Tidal has gotten a lot of attention for high-profile exclusives lately, including the release of Kanye West’s album “The Life of Pablo.” Some of that likely has translated into a surge of new users, but it’s unclear how loyal those users will be.
There have been persistent rumors that Jay Z may be looking to sell Tidal, with Samsung being one of the companies being named as a possible suitor. Those rumors were first fueled when Jay Z dropped by Samsung’s Silicon Valley campus for a discussion with key media execs last fall. A few days ago, reports surfaced that the two companies are talking again.