I hope this isn’t a sign of bad things to come with record labels. According to the Urban Network Sony Music recently did layoffs in all divisions in the company. Close to a hundred employees were laid off from the music conglomerate within the last couple of weeks. The Network Magazine Group has reported that Sony Music’s San Francisco, California and Washington, D.C. offices have been closed down for operations. A statement to the media Sony said, “Sony Music confirms it is redirecting its resources in order to maximize the efficiency of its operations and effectively meet the challenges of an evolving industry”.
Sony Music reported an 86 million dollar loss in the first quarter sales for its music division this year. Sony Music is home to such record labels as Columbia and Epic and Loud Records ( which it took over earlier this year). Artist that are connected with Sony are Nas, Bow Wow, Wyclef Jean, Lauryn Hill, Destiny’s Child and Project Pat. Sony also handles movies, electronics (video games systems- playstations).
