MCA Records laid off up to 75 staffers yesterday (June 9) as part of its anticipated merger with Geffen Records.
MCA Records laid off up to 75 staffers yesterday (June 9) as part of its anticipated merger with Geffen Records, Billboard Bulletin reports. The merger, and the long-expected appointment of Geffen president Jordan Schur as head of the combined entity, should be announced soon. It is expected that the MCA Records name will be eliminated.
The combined operation, which will be part of the Interscope Geffen A&M (IGA) family, is expected to emerge as a stand-alone label with its own A&R, marketing, and promotion operations. It will share some services with the other labels, and will still fall under the purview of IGA chairman Jimmy Iovine.
"We have begun a restructuring process at MCA Records," IGA says in a statement. "Further details about the structure and staffing of the label will be announced shortly. We are grateful for the contributions made by the employees affected by these changes."
The cuts amount to roughly one-third of MCA's total staff; no Geffen employees were let go. MCA Nashville was not affected by the layoffs and will retain the MCA name.