Courtesy of Universal
In a finding that’s sending shockwaves through the recording industry, Universal Music Group has discovered several workers on its payroll that the company has not yet fired. Digital Music News reports that “widespread” and “spread out” layoffs are on their way, but they won’t all happen at once because UMG plans to employ a “slower strategy often adopted to minimize widespread media attention.” (Surely that’s bound to work!) Also, says Digital Music News, expect for the entire staff of Geffen Records to see pink slips, probably before year’s end. This comes not long after rumors that Sony-BMG has plans to dump 40 to 70 executives by Christmas.
The record labels all performed so well in 2007, we can’t wait to see how they’ll do next year without all those troublesome staff members cluttering up their offices! Sadly, most of those given their walking papers will probably be mid-level employees and not the high-ranking ones that got the music business into this problem in the first place.
Universal Music Layoff Reports Continue Trickling [Digital Music News]
Question Marks Surround Fate of Geffen Records [Digital Music News via Idolator]
Earlier: Music-Business Meltdown! Ultragrrrl Out of a Job!Shock: Record Label Realizes It Still Has Some Employees It Hasn’t Yet Laid Off