eMusic To Cut Staff By 10%
October 31, 2008 at 1:54 PM (PT)
Despite reported revenue growth of up to 40%, digital music service EMUSIC will lay off 10% of its staff as is searches for a successor for CEO DAVID PAKMAN. The cuts were attributed to the general economic slowdown, as well as to weak sales from retail bundling partners such as BEST BUY, reports DMWMEDIA.COM.
"We are expecting to grow, but we're going grow slower than we'd hoped," JDS CAPITAL MANAGEMENT and EMUSIC Chairman DANNY STEIN told ALL THINGS D.