According to an article in yesterday’s Variety, Rhino Records cut between 30 and 40 staffers on Thursday.
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A statement from Rhino cited a “fundamental transformation of the physical new release and catalog business” as a reason for the cuts.
The Company said Rhino will evolve into an entity that “handles WMG’s global digital catalog initiatives, film, TV, vidgame and commercial licensing, and name and likeness representation for legendary artists.” [Variety.com]
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Though the company statement is somewhat vague about Rhino’s precise future, as I understand it, the Rhino Records we once knew, no longer exists (which is a real shame because they always put out quality product).
