Apple-Beats deal to result in over 200 job cuts
Almost 200 employees from Beats will reportedly go under a job cut knife as soon as Apple closes the $3 billion acquisition deal with the music-streaming company.
While the acquisition deal will see most of the Beats’ workers moving to Apple, the restructuring is expected to axe about 200 jobs.
Jimmy Iovine and Andre Young, Beats co-founders, along with creative boss Trent Reznor and music chiefs Luke Wood and Ian Rogers have already made their move to Apple’s Cupertino headquarters.
According to a report from 9to5Mac, Apple executives visited Beats’ Southern California headquarters this week to offer the Beats’ employees different positions at Apple and to notify some of the Beats staff that they will not be a part of the transition. While majority of Beats staff in creative roles will get positions at Apple, human resources, support, finance, and other similar jobs overlapping between the 2 companies will be hit by the job cut.
The Cupertino said in a statement that the company is quite excited to welcome the Beats team and that job offers have been extended to every Beats employee. Some of the job offers are for a limited period as they overlap in operations, while in the mean time the company will work hard to find as many of these Beats employees another permanent job within Apple.
The Apple-Beats deal, announced in May, is expected to close this quarter. The iPhone maker had a total of 41,300 employees at the end of June.