Paradise Music Cuts Work Force by 33%

Paradise Music & Entertainment Inc., a provider of management and production for the music and entertainment industry, fired about 30 employees, or 33% of its work force, to reduce costs because of a slowdown at its Paradise Film & TV Group.

Paradise Music & Entertainment said the cuts were a result of ongoing strikes at the Screen Actors Guild and the American Federation of Television and Radio Artists.

The New York-based company also said it will reduce salaries companywide. It said costs increased at the Film & TV Group and development costs rose at its Music Group.

The company also announced that second-quarter revenue rose to $6.3 million from $1.9 million a year earlier. Its shares rose 6 cents to close at $1 in Tuesday’s trading on Nasdaq.