Universal Music Group Layoffs Expected Today

2:01 AM PST 1/21/2011 by Shirley Halperin

The company will let go of approximately 60 staffers in North American territories. Says a statement released to THR: "The current economic climate dictates that we continue to look for more efficient ways to run our business."

Universal Music Group is expected to undergo another round of layoffs today (Jan. 21). The company which counts powerhouse label Interscope Geffen A&M (home to U2, Eminem and Lady Gaga), the legendary R&B shop Universal Motown, Island Def Jam (Kanye West, Bon Jovi and Justin Bieber), and Universal Republic (Florence + The Machine, Colbie Callait), among other subsidiaries, will let go of approximately 60 employees, all from North American territories, sources tell THR.