Def Jam Downsizes, Brings In Bruno Mars' Manager
Maybe 50 Cent was right when he said Def Jam Recordings is "$80 million in the hole."
Despite Def Jam CEO Barry Weiss' response that the record company is in good financial standings, according to reports, the label recently downsized by laying off 20 employees.
Over twenty staffers, along with industry executives Jonathan McHugh and Chris Hicks were dismissed from the Island Def Jam/Motown record labels.
According to reports, McHugh and Hicks will continue to do consulting work for the label and other companies.
The news of layoffs come almost a month after Island Def Jam CEO Barry Weiss denied a report by TheWrap, which stated the legendary label was ailing.
In addition to downsizing, Universal Republic and Island Def Jam/Motown also announced that they have expanded their creative teams with the addition of artist manager and artist & repertoire executive Brandon Creed.
Serving as an exclusive A&R consultant for both companies, Mr. Creed will report to Barry Weiss, Chairman & CEO of Universal Republic and Island Def Jam Motown.
"As we continue to expand our creative investments, Brandon is a perfect fit," Weiss stated. "Besides being a great artists' manager, he is also a talented A&R and creative executive.
"We plan to get him very involved across our labels at Island Def Jam Motown and Universal Republic."
Interesting. Doing more with less is definitely in effect at the house that Russell built.