In the latest indication of the shrinking market for compact discs, Warner Music Group's catalog arm Rhino Records implemented across-the-board layoffs Thursday.
Sources estimated between 30 and 40 employees were downsized in all departments, including A&R, marketing, promotion, and publicity.
A statement from Rhino cited a "fundamental transformation of the physical new release and catalog business" as a reason for the staff cuts.
Read more at Variety.
