May 08, 2007 @ 6:47 pm
Warner Music Cuts Jobs; Def Jam Rumored to Follow
Two major music companies allegedly in flux.
Warner Music Group is set to restructure, eliminating a total of 400 positions gradually over the coming months. According to a Billboard report, the company is refocusing its interests on digital strategy and distribution, and plans to invest in further digital development.
Meanwhile, rumors have spread that Def Jam has let 40 people go from its operations, and several top executives have allegedly left the company. According to the media-gossip website Jossip, a source reported that the company is floundering because "Jay-Z, L.A. Reid and Jermaine Dupri are still getting paid millions ... and running the company into the ground" - though the source remains unverified. Representatives for Def Jam could not be reached at press time. Keep vibe.com locked for updates.
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Comments
1.
HugeUglyGirl says:
I agree with Vegasmoke too! These people give up their personal freedoms to do what they love and god forbid if they only sell 500,000-999,999 units. That's considered "failure" by today's standards because those hoggz have to make their 70billion before they consider it another "good day". Trey Songz sold 486,000 units his first time out and his people pulled the plug on his tour! He had to use his own money to stay on the tour with Neyo!
November 14, 2007 at 3:02 pm
2.
HugeUglyGirl says:
I agree with JReese. The industry is always claiming so called "losses" I would consider moving from $108G's per week down to 50G's per week a loss too if I was a money glutton like them record execs! Souljaboy made $10G's per show without the Music industry. Why he got signed iono, but JReese is right. Its time to take back control of the music and the profits!
November 14, 2007 at 2:58 pm
3.
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June 15, 2007 at 8:08 pm
4.
J-Reese says:
The rich keep getten richer and the hustlers got to keep on hustlen. Now lets bring the grind mode back out of some of you who got lazy.. Let bring bak the underground movement!!!!! Do it youself its your rymes your thought so you should get all the money. Why pay somebody most of the money you maid?? It never made sence to me...
May 15, 2007 at 1:02 pm
5.
NeNe says:
BAD KHARMA!! For all those lives affected by the many years of abuse. Most of the material used is stolen from new people trying to get in the business or nobodies w/o money to fight them.
May 14, 2007 at 5:16 pm
6.
vegasmoke says:
It only makes sense that these guys are getting paid millions they trying to get as much as possible out of the music industry becuase the industry is about to close shop for a few years.. Music downloads etc aint no body buying music I dont the shit cost too much.. Hey these guys are learing from the best all the WHITE'S who have sabatoged every industry possible Jimmy Ivione Clive Davis and the bigges Mafia click Warner brothers..
May 14, 2007 at 3:52 pm