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Rhino Records Lays Off 30-40

WMG unit attempts to change with the times.

 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.