RIP MySpace Records
According to various sources (digital music news and hits daily double) Myspace Records also had some job cuts yesterday, with the head of the label basically leaving to join Disney records (god really?). Read the rest of this entry »
According to Hits Daily Double:
Warner Music Group reported a 1% increase in revenues to $861 million (5% on a constant currency basis) for the quarter ending Sept. 30, while digital revenue grew by 10% to $184 million, acoounting for 21% of all quarterly revenues. But not all was good news, as the company posted a loss of 18 million (12-cents per share), the result in part of severance costs. On the year, losses hit $100 million, compared to $56 million a year ago, while revenues were down 9% to $3.176 billion.
So they increase revenues but lost money… because they laid people off.
Business math is fun
Fancy ad agency Crispin, Porter & Bogusky is whoring its interns out via eBay. This is an interesting way of making money. I wonder if I can eBay my roommate off. However, when I do it, it’s called prostitution.
Crispin Sells Its Interns on EBay – Advertising Age – TalentWorks: “May 19, 2009
A
NEW YORK (AdAge.com) — We may be in a recession, but this year’s batch of Crispin Porter & Bogusky interns will be getting fatter paychecks. Not that the agency itself will be funding the pay increases for the 40 young talents who will slog away in its Miami and Boulder, Colo., offices on accounts such as ‘Guitar Hero’ and Burger King. Rather, Crispin has launched an eBay auction for their services.
May 19
Nokia is laying off more people, which means more competition for me as I try to get a job so I can tie the knot. Come on people! Get it together. I am trying to be an adult!
Nokia Cuts Another 490 Jobs: “
Nokia (NYSE: NOK) is planning to cull a further 490 jobs as part of its previously announced global cost cutting measures. The Finnish cellphone giant, which saw handset sales fall 19 percent in the first quarter, said it will lay off 170 employees working in logistics, production management and production support, and will offer voluntary resignation for up to 320 of its production employees at its Salo manufacturing plant. Since job cuts began earlier this year, Nokia has laid off over 4,000 of its workers. (Release.)
(Via mocoNews.net.)
