Rhino cuts staff by 20 percent
NEW YORK (Billboard) - Archival specialist Rhino Entertainment has laid off about 20% of its staff, due to declining physical sales, sources said.
In total, some 30-40 employees were let go, mainly those who worked with creating physical product. So far this year, CD sales are down about 20%, according to Nielsen SoundScan.
The Warner Music Group label, known for its comprehensive boxed sets, will continue to release music physically, but there likely will be a cutback in the number of overall releases, and some releases may only be available digitally, sources said.
(Editing by DGoodman at Reuters)
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