Layoffs at Atlantic Labels: Nearly five dozen...

Layoffs at Atlantic Labels: Nearly five dozen employees are expected to lose their jobs this month at Time Warner’s Atlantic Group when firm co-Chairman Val Azzoli consolidates several unprofitable label ventures, sources said. The TAG, Lava, Mesa Blue Moon and Code Blue labels will be folded into the Atlantic Group, with about 50 acts expected to be slashed from Atlantic’s total artist roster before January. Despite rumors of downsizing, the profitable Mammoth and Big Beat labels are expected to remain unscathed. Announcement of the layoffs could come as early as today.