Sony-BMG Cuts Underway

The NY Post’s Brian Garrity reports that the cuts we heard about last month are underway at Sony-BMG. The silver lining: Brian quotes a source that says the joint venture between Sony (SNE) and Bertelsmann will only be sacking 20 people, not the 40-70 we had heard about, and that there may even be new hires next year in growth areas like digital. We hope that’s true.

“The cuts are relative to the projections for what the physical (CD) and digital business will be for the next year,” said one source on the condition of anonymity. “In order to meet a business plan you have to adjust”.

Related: Exec Layoffs Coming At Sony-BMG
More Music Layoffs: A Dozen At Def-Jam

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