Apple is finalizing its acquisition of Beats Electronics ahead of the August 1st closing date, and while most of Beats’ top talent will be migrating to the mothership, about 40% of Beats’ global workforce will be cut during the transition.
Around 200 jobs at Beats Electronics will be cut as part of the merger, according to the NY Post, which reports offers were sent to from Apple to employees last week, some of which are just transitional offers with a set end date.
The $3 billion acquisition of Beats is expected to be completed by the end of this financial quarter. Beats co-founders Jimmy Iovine and Andre Young have already moved under the Apple umbrella, and other key Beats figures like creative boss Trent Reznor and music chiefs Luke Wood and Ian Rogers will also move to Apple’s Cupertino headquarters.
Apple executives visited Beats’ campus last week, as first reported by 9to5Mac, and have been going through the process of removing redundant employees, mostly in support, finance or HR positions.
Most employees will relocate to Apple HQ in Cupertino, but Beats’ Culver City warehouse offices - which is where “Gone with the Wind” was filmed – will likely remain open, putting the company close to other companies like Nike, Maker Studios and PopSugar.Related