Roc Nation Hit With Multiple Furloughs, Pay Cuts
, was hit with multiple furloughs and pay cuts last month that extend across as much as half the company, multiple sources confirm toThe furloughs and pay cuts — which sources said were in the 10%-20% range — are said to extend across all departments as well as the streaming service Tidal, where sources said the affected areas were largely in the marketing and events departments.
Many of those affected were lower-level employees, sources said, although the company’s former CFO, Gregory Resh, left last month and has since become CFO of Baltimore-based information technology company Sontiq, according to his LinkedIn page. Founded by Jay-Z in 2008, Roc Nation has grown into a far-reaching agency with offices in New York, Los Angeles, Nashville and London that includes artist and athlete management — clients include Rihanna, Shakira, J. Cole, Big Sean, Yoenis Cespedes, Kyrie Irving and Robinson Cano — label, publishing, touring, film / TV and “new ventures.”
Roc is a partnership with Live Nation, which owns more than 50% of the company, although sources say Live Nation chairman/CEO
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