There is no doubt that major staff reductions and changes are underway at the RIAA. But one seemingly knowledgeable but unconfirmed source tells Hypebot that the cuts run much deeper than previously reported.
(Major label heads) Hands, Morris are squeezing the ____ out of these guys after the ISP failure and a major budget cut. (The) RIAA as you know it is probably history by Tuesday of next week, a formal announcement is being drafted for drop next week.
The new group is a aggregate of IFPI + remaining pieces of BPI + RIAA - (a) new leaner, coordinated group...DC offices are getting closed except for one part of one floor on Conn. Ave., just for the address."
Hypebot has asked the RIAA to comment. Readers please send info on the layoffs privately to hypebot(at)skylineonline(dot)com.