Friday, April 17, 2020

Roc Nation Slashes Pay and Furloughs Workers


The coronavirus COVID19 shutdown takes a huge toll on Jay Z's company Roc Nation....

According to reports there have been furloughs and pay cuts across the board at Roc Nation including employees at Tidal.

The pay cuts, made a month ago, were said to be in the 10 to 20% range and the furloughed workers were mostly from the marketing and events departments.

Jay Z's parent company Live Nation also furloughed employees and cut salaries after touring ground to halt because of the COVID19 coronavirus quarantine.

10 comments:

Anonymous said...

But I thought he was a Billionaire? He's not liquid enough to carry his employees for a couple of months? Keep telling on yourself.

Anonymous said...

@11:02, these airlines, hotels, and stores are multi billion dollar companies and they did the exact same thing. people always want to make it a bigger deal when it's jayz or another black person.

Anonymous said...

None of his artists will make money for a year or two because Rocnation monopolize all entertainment venues so they can't perform. One of the reasons kanye went to the church venue. The business you mentioned didn't boast and brag about their wealth that is why it is a big deal.

Anonymous said...

Yea everybody doing the same thing big deal. This is not going away until they develop vaccine.

Anonymous said...

It Is Jay-Z Who Misrepresenting Hisself As A BIG DEAL - Like That Time He Bragged About Owning A Basketball Team & Come Too Find Out The Waterboy Had More Pull Than Mr 000.1 %. Lol ..



Exalt Yourself ?! & You Will Be Humbled.

Billionai

Anonymous said...

@11:29 Right why single out 1 of thousands businesses doing the same thing. Its unfortunate but its good business sense...

Anonymous said...

Duh, read between the lines - Live Nation is Roc Nation's boss (as in ownership). Same rules, different players.

That's okay, Jay has done well for himself; it's business man!

Royal said...

Airlines, cruise lines and hotels have announced permanent job cuts. The difference between the 3, airlines are essential and why they're receiving bailouts. Cruise lines and the larger hotel chains like Marriott, Hilton have enough tangible assets to raise cash through debt offerings. See stock ticker for Jay's parent company Live Nation (LYV) and you'll better understand why Jay is bleeding cash that cannot and will not be easily recovered. More than likely they're non-essential and it makes business sense to furlough them. Unless he wants to raise capital by using his assets as collateral. Michael Jackson used the Beetles catalog he owned as collateral for loans.

Anonymous said...

For the 1st commenter who said "I thought he was a billionaire?" Ummm ... that's how you maintain billionaire status. Your company cuts losses. His companies are making necessary cuts to stay afloat. Since Live Nation is Roc Nation's parent company and Live Nation is a publicly traded company, they have to ask people to take pay cuts and lay off employees. If they don't then their stockholders can sue them for not taking appropriate action to protect their assets.
This is not Jay's personal money. Please pick up a few books about how corporations do business. You can even find free information on Google and YouTube to educate yourself about how capitalism and corporations work. There's plenty of time to learn something new while you sit in quarantine.

Anonymous said...

@ 7:58pm
Hi Jay's nutsack holder and cum swallower!

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