Napster cuts roughly 10 management jobs
JAN. 25 9:37 P.M. ET Online music retailer Napster Inc. on Wednesday said it had cut roughly 10 middle management-level jobs, but dismissed reports suggesting it is on the auction block and that a wider round of layoffs was pending.
The company declined to specify exactly how many employees it had dismissed. Before the job cuts, which occurred Tuesday, the Los Angeles-based company's worldwide staff totaled 153.
In a statement, Napster attributed the layoffs to redundancies formed when the company consolidated operations for its subscription service. No additional cuts were being contemplated, the company said.
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Napster, the original, got shut down, and new Napster is also struggling. Napster has a good brand name, but it is also destined to fail as a business?
