Layoffs Hit Universal Music Group

60 Positions Reportedly Being Cut

The long-rumored layoffs at UNIVERSAL MUSIC GROUP have become an unfortunate reality TODAY (1/21), reports THE HOLLYWOOD REPORTER. The company, which includes INTERSCOPE GEFFEN A&M, UNIVERSAL MOTOWN, ISLAND DEF JAM and UNIVERSAL REPUBLIC, will cut approximately 60 employees, sources told THR. 

UMG released a statement to THR saying, "As any well-run company, the current economic climate dictates that we continue to look for more efficient ways to run our business. So we are taking steps to reduce costs while increasing our creative investment in a number of key areas and new businesses. While we regret the impact these cost savings have on those affected, we believe acting now will enable us to be even better positioned in taking smart creative risks, leading the industry in the growing mobile and online businesses, and delivering compelling quality, music-based entertainment to consumers globally."

Reach out to the following:

*MIDWEST Promotion TOM MARTENS - (314) 737-7160 recorduck@aol.com

*MIDWEST Promotion CHRIS HUGHES - (313) 204-0510 Chris4bears@gmail.com or ChrisHughes727@gmail.com

*SOUTHWEST Promotion CHRISTIAN TAYLOR - (713) 572-5709 taylor.christian@gmail.com

*College and Specialty Programming Promotion BRENT REINEKE - (310) 403-5905 brent.reineke@gmail.com

* HOUSTON-based Crossover Regional MARICIA MAGANA - (310) 722-9070 marimp3@yahoo.com

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