Epic Records was hit by a round of layoffs on Wednesday that sources say has affected approximately 15 people.
Details were incomplete at the time of this article’s publication but sources tell Variety that the A&R, promotion, marketing and publicity departments were affected, among others.
While a rep for Sony Music declined comment, the company’s fiscal year ends on March 31, so a connection between the two events seems likely.
Variety will have more on this news as information becomes available. Tuesday, March 19 Iconoclast and the estate of Tony Bennett have struck a deal for certain rights to the late singer’s catalog, including name and image likeness rights, some publishing and video assets, artist royalties and a number of recorded-music rights.
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