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Apple-Beats deal to result in 200 layoffs

The two companies are expecting the merger to be completed by the end of the current quarter.
By Ananth Baliga   |   July 31, 2014 at 12:25 PM   |   Comments

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CUPERTINO, Calif., July 31 (UPI) -- Apple said Thursday it will let go of 200 redundant Beats positions, as the two companies near the completion of their $3 billion deal.

While some employees will make the transition to Apple's Cupertino headquarters, other jobs that overlap with already-existing Apple positions will be terminated, according to Bloomberg. The 200 employees have been given temporary positions for now but aren't in long-term roles.

"We're excited to have the Beats team join Apple, and we have extended job offers to every Beats employee," Tom Neumayr, a spokesman for Apple, said in a statement Wednesday. "Because of some overlap in our operations, some offers are for a limited period and we'll work hard during this time to find as many of these Beats employees as we can another permanent job within Apple."

While employees in creative roles will retain their jobs, most of the layoffs will be in human resources, finance and roles where there is overlap between the two companies.

Apple purchased Beats for $3 billion in May, and is seen as an attempt by the iPhone maker to expand its presence in the music streaming segment. At the time, Apple announced Beats cofounders Jimmy Iovine and Dr. Dre will join the company as mid-level executives.

Last week, Apple was given regulatory approval by the European Commission for the deal and is now awaiting approval in the U.S.

Follow @antbaliga and @UPI on Twitter.
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Topics: Dr. Dre
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