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Tommy

Boy will scale back their operation and,

according to sources, 80 employees will be let go.

Warner Music will buy out the remaining 50% of the

label from founder Tom Silverman, who will retain

several artists and the Tommy Boy name. According

to sources, the label is not going out of business

as has been rumored, but will begin to focus their

attention on dance music.

“We

will still be here in the same location with a few

less acts and a smaller staff,” Silverman told allhiphop.com.

“Leaner & meaner like all the survivors in 2002.”