Sony's Stringer Asking, "So What Is It Exactly You Do Around Here?"
A report yesterday in the New York Post told of pending cuts at Sony BMG. Rob Stringer "officially took the helm" a few weeks ago and is prepping the duty roster for layoffs.
"Stringer, who had headed the company's U.K. division, is said to be scrupulously going over the company's personnel rolls looking for cuts.Despite nearly 2,000 layoffs worldwide following the 2004 merger between Sony Music and Bertelsmann's BMG, 'The cost structure is still bloated,' said one source.
Stringer, incidentally, is the younger brother of Sir Howard Stringer, the chief executive officer of Sony. But Rob Stringer joined Sony years before his brother did. Another source said Stringer's tinkering is about 'undoing Don nie's legacy and the structure he put in place.'
One area that is sure to be altered is Sony's urban music division, which right now sits outside the division's two main labels - Epic Records and Columbia Records - and which boasts such hit artists as Beyonce, Shakira, AC/DC and Jessica Simpson.
Sources say the likely cuts won't be anywhere near the magnitude of the original post-merger downsizing, and could amount to no more than 100 employees."
Music Groups