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Napster Lays Off 10 "Middle Managers," Denies Substantial Layoff Rumors

Authored by Mark Hefflinger on January 26, 2006 - 8:56am.
Los Angeles - Napster announced that it plans to lay off around ten middle managers, denying rumors that have been circulating about more substantial job cuts at the digital music service provider. "Consolidating the Napster subscription service with our new Napster.com initiative has resulted in approximately 10 middle management redundancies world-wide, and no additional reductions are contemplated," the company said in a statement. "Napster projects its headcount will actually increase over the coming year as our new Napster.com products enter the marketplace. Rumors of major or significant layoffs were misleading and greatly exaggerated, and efforts to sell the company are patently untrue." The company recently announced that it has surpassed 500,000 paying subscribers.
http://tinyurl.com/crmjb (Reuters)
http://biz.yahoo.com/ap/060125/napster_job_cuts.html?.v=2 (AP)
http://www.napster.com

tags: Napster | Middle Managers | Denies | Rumors |



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