Geffen Records: Shutdown Imminent
December 12th, 2007 | by Aidan Williamson
Sources close to record label Geffen are suggesting that the company is facing huge layoffs at the end of the year which will be followed by a shut-down of operations.
Geffen, which has featured artists such as Beck, The Cure, Nirvana, Rise Against, Sonic Youth, and Weezer on their roster is allegedly undergoing a ‘reanalysis’ of it’s status under the Universal Music banner.
While some sources within the organisation point to a complete wind-up of the label, others point to the far more likely scenario that the brand name will be maintained by releasing certain releases and artists under the “Geffen” imprint. The functionality of the actual inner-workings of the label will be shifted elsewhere, perhaps being merged into the main wing of Universal.
“Geffen would be shuttered in the way that labels like that get shuttered.” the source concluded.