Verve Group Cuts Staff; Roster Next
The Verve Group, the newly formed entity that includes the Verve, GRP, Impulse! and Blue Thumb labels, has announced the release of 20 employees from the combined labels’ staff of 76. “It’s never easy when you’re dealing with people’s lives,” said Verve Group CEO Tommy LiPuma on Thursday. “But we’ve tried to make the best choices we could between the companies.”
Roster cuts, which also have been anticipated since the companies merged under the Universal banner as a result of Seagram’s acquisition of Polygram, will be announced next week.
“There’s probably going to be around a 50% roster cut, across all the labels,” LiPuma adds. “I know that sounds substantial, but we obviously will keep the acts we consider to be the creme de la creme. And that will allow us to concentrate on career building by using the great international opportunities that are now available to us as a result of the merger.”
On Thursday, Universal Music Group also laid off about 200 employees in the sales and distribution sector.
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