A number of executives are sharing morbid layoff details with Digital Music News, particularly those surrounding Sony BMG.
Initial chatter pointed to a shedding at Columbia Records Group, though subsequent information suggests a broader number of affected divisions.
Majors traditionally exact piecemeal layoffs to avoid attention in the media, and minimize related costs. But one source close to the situation pointed to an “old-style layoff” ahead, while another alluded to a different sort of “Black Monday”. Other information suggested reductions at RCA Music Group, also a Sony BMG unit.
On Friday, Silicon Alley Insider jumped into the topic by reporting “40 to 70 mid-level execs before the end of the year,” particularly in the New York offices.
Outside of Sony BMG, executives are also pointing to reductions at Island Def Jam, particularly within A&R. According to one source close to the situation, Greg Thompson, Paul Pontius, and Robert Stevenson have left – or are leaving – the building. Both organizations were contacted for official comment, but did not respond.