Apple Eliminating 200 Beats Electronics Jobs Following Acquisition (Report)
The Cupertino tech giant is reportedly laying off as many as 200 Beats employees following its $3 billion acquisition.
It looks like not everyone will keep their jobs when Apple completes its $3 billion acquisition of Beats Electronics.
The companies are said to be eliminating 200 jobs of about 700 globally to reduce redundancies between the two companies, according to reports in 9to5Mac and the New York Post. Affected departments include human resources, finance and support. Top executives including Dr. Dre, Jimmy Iovine and Beats Music CEO Ian Rogers will stay with the company.
An Apple spokesman told Billboard that there are no immediate eliminations, however, the company has offered some Beats employees only temporary positions at the newly combined company.
"We're excited to have the Beats team join Apple, and we have extended job offers to every Beats employee," said spokesman Tom Neumayr. "Because of some overlap in our operations, some offers are for a limited period and we'll work hard during this time to find as many of these Beats employees as we can another permanent job within Apple."
A source familiar with the acquisition echoed that every Beats employee has been offered a package with Apple, whether temporary or long term. "Everyone who wants to stay is being interviewed," says this source. "It's a very democratic process."
Apple announced in May that it had agreed to acquire Beats, known for its headphones and recently launched music streaming service, for $3 billion. The European Union cleared the deal on July 29.