Rhapsody/Napster Undergoing Restructuring With 'New, Streamlined Structure'
Rhapsody/Napster is undergoing restructuring, according to a statement from the company's CEO.
Amidst rumors that the digital streaming service would be shutting down its longtime San Francisco office, CEO Mike Davis confirmed that at least some change is afoot.
"As part of our plan to better position Rhapsody/Napster for long-term profitability and accelerated growth in a competitive global market, we have a new, streamlined structure for the company that unfortunately impacts a number of positions across our global offices," said Davis. "We will handle the process with the deepest respect and gratitude for all affected individuals."
Rhapsody/Napster's corporate offices are in Seattle, but the company also has managed staffs in San Francisco, New York, São Paulo and Frankfurt.
Davis stepped up to lead the company in April. In his statement, he noted a 35 percent increase in paid subscribers last year and promised better efficiency and global positioning with this new move.
"The difficult actions we are taking now will create operational efficiency and position Rhapsody/Napster for growth while further expanding our global partnerships, which last year contributed to a 35 percent increase in paid subscribers," he said. "We're proud of the product innovations we've introduced that connect music fans with each other to discover new music they love, and look forward to continuing to create experiences and partnerships that increase the amount of music people emotionally connect and listen to around the world."