Compendia Cuts Staffers

Move follows Sheridan Square acquisition.

Nashville-based Compendia Music Group has laid off six staffers in the wake of its December sale to Sheridan Square Entertainment. The layoffs -- mostly in the financial and legal areas -- were in positions deemed to be redundant with those held by staffers at Sheridan Square, owner of Artemis Records and Musicrama.

Compendia president/CEO Michael Olsen, who describes the cuts as "a painful and unfortunate part of the job," says those "back-office functions" will be consolidated in Sheridan Square's New York office.

Compendia now has 18 staffers in Nashville. As part of the recent changes, the company has closed its small affiliate office in Atlanta.

Among those let go are Compendia head of legal and business affairs John Rolfe and manager of regional sales and marketing Debbie Loring. CFO Daley Kennedy will exit in a few weeks.