Roland, M-Audio, Korg Reduce Workforce
Today’s Top Story
Roland, M-Audio and Korg, some of the biggest manufacturing names in music gear, are downsizing amid the recent economic downturn.
Roland has reportedly cut 10% of their workforce with more cuts slated if sales don’t perk up in the next quarter. M-Audio has issued their second round of pink slips, and Korg is said to be consolidating several departments to reduce costs.
While the news is not a major surprise to industry watchers, it does come at a particularly bad time for axed employees who hoped that the holiday buying season would secure their jobs in the short term.
The restructuring could also see companies rushing products to market instead of traditionally debuting them during the NAMM “dog ‘n’ pony” show in January.
The economic downturn could have dire consequences for electronic music and DJ gear companies like Stanton, EKS and Numark who hoped that their new products would buoy their year end results. Stanton is in a good position with its new DaScratch MIDI DJ controller, a fun and dynamic controller that weighs in at an inviting $199 street price. Numark, who has pushed back the debut of their NS7 digital DJ system several times, is somewhat insulated by a wide product range. However, EKS has their marketing work cut out for them with the €649 OTUS controller which appears to contain alien technology that they managed to smuggle out of Roswell, New Mexico.