 "Bad news: Apple to lay off 200 people from recently acquired Beats Electronics")
Apple Inc intends to lay off about 200 people at Beats Electronics LLC following its $3 billion acquisition of the headphone and music streaming services company, Bloomberg cited a person with knowledge of the restructuring as saying.
The job cuts will mainly hit human resources, finance and other departments with significant overlap between the two, the news agency reported.
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Apple’s largest acquisition in decades, announced in May, lands the iPhone maker a fast-growing music subscription business, executives like Jimmy Iovine with strong ties to the recording industry, and a line of premium headphones.
Reuters
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