Is Sony BMG Slashing Its Executive Ranks?
That’s what Silicon Alley Insider is claiming; according to its report, “40 to 70 mid-level execs” will be purged from the company’s ranks during the holiday season, thanks to dismal revenues this year. Perhaps this means that the label is planning to actually let people know that it’s putting out new albums next year, as the SAI noted that “the company was able to eke out an $8 million profit before taxes, but that was largely because it wasn’t spending money promoting many new releases.” We’re sure Kelly Rowland is shocked by that little tidbit!
Exec Layoffs Coming At Sony-BMG [Silicon Alley Insider]
