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Friday, November 7, 2014

Capital Records Laying Off Employees

Rumor are that +Capital Records may be having a big layoff. This strikes the music industry hard as the age of digital music comes into play. A source with knowledge of the situation tells Billboard that a dozen staffers were let go today (Nov. 6) as part of a restructuring at Capitol Music Group. The restructuring is part of a continued evaluation of the company under chairman Steve Barnett, which began in late 2012 with Barnett’s appointment to the top spot. Additional hires are expected in the coming weeks and months.

@ganstamarcus