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Universal Music Group Lays Off Approximately 50 Employees

Universal Music Group, one of the four major record labels, announced layoffs today that numbered around 50 employees. The cuts affected Verve, Interscope, Def Jam, Motown, and Universal Motown Distribution, and the official reason given by the press release stated that these layoffs were a product of "redundancy," as opposed to, you know, bad business practices. None of the label heads were fired in these layoffs, though several VPs were. Which seems a lot like the Chicago Bears keeping Lovie Smith on staff, but firing Ron Turner. [Daily Swarm]

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Nice analogy.

I love all the hard news on Prefix today.

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