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Company Town Annex

February 08, 1995|Times Staff and Wire Reports

BMG Restructuring Leads to Layoffs: As expected, dozens of employees at anemic RCA Records were notified Tuesday that their positions will be eliminated as part of a restructuring plan orchestrated by Strauss Zelnick, the newly installed president and CEO of Bertelsmann Music Group Entertainment North America. Zelnick, whose firm cornered 12.9% of the $11-billion U.S. album market last year, will slash 39 jobs at the New York-based label and 11 positions at its sluggish Zoo Records label in Los Angeles. The move follows a recent decision to cut ties with idling Imago Records, also considered a fiscal embarrassment to BMG's German parent company, media giant Bertelsmann.

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