In an email sent to the BMI staff last week, President and CEO Mike O’Neill announced that the PRO would be reducing its total workforce by just under 10% via a headcount reduction and the decision to leave a number of current open positions unfilled.
According to a source at BMI, the headcount reduction accounted for fewer than 30 people. Whether or not these layoffs have affected BMI’s Nashville branch is unclear at press time.
In an email obtained by MusicRow, O’Neill writes, “These decisions are never easy as they involve our colleagues and changes to the way we operate. At the same time, they are necessary for us to ensure that we are best positioned for continued success in the future.”
O’Neill continues, “We learned some important lessons during the pandemic about how we could operate more effectively. Unlike many other companies, we made a concerted effort to maintain headcount as COVID took hold, the right decision for us at that time. As we emerged from the pandemic, it became clear that there were areas in our workforce that needed adjustment.”
He goes on to say that though BMI has continued to “outperform the competition,” the PRO’s success doesn’t mean the company should not “take a critical look at our business and ensure we are operating in the most efficient and effective way possible, particularly as we head into uncertain economic times.”
This is a developing story…
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