Streaming music pioneer Rhapsody, one of the first digital music companies to offer access to songs through monthly subscriptions, has cut its staff by 15%.
Also, its president, Jon Irwin, is stepping down and will continue as a strategic advisor.
Rhapsody International, the service's parent, said Monday that the layoffs were concurrent with New York investment firm Columbus Nova Technology Partners' taking a large share in the company.
An executive committee has been formed to run the business. The company said it would focus on growing in Europe and emerging markets as it restructures its U.S. business. In addition, Rhapsody said it hired Ethan Rudin, a former
Columbus' Jason Epstein and Andrew Intrater joined Rhapsody's board of directors.
Launched in 2001, Rhapsody has had difficulty finding a broad audience as competing players such as
Rhapsody in not the only online music company that has recently made management changes.
Follow on Twitter: @rfaughnder