Via Allhiphop.com

Legendary hip-hop label Def Jam went through serious downsizing last week, when over 20 employees were laid off.

Over twenty staffers, along with industry executives Jonathan McHugh and Chris Hicks were dismissed from the Island Def Jam/Motown record labels. According to reports, McHugh and Hicks will continue to do consulting work for the label and other companies.

The news of layoffs come almost a month after Island Def Jam CEO Barry Weiss denied a report by TheWrap, which stated the legendary label was ailing. Continue Reading…..

Oh dear….

If they were honest they would admit that the label has been “ailing” for sometime and ‘allegedly’ in serious debt.