Loud Records Falls On Hard Times, Lays Off Staff

Loud Records

let go over half of their staff on Friday March 15th, and will cease to operate

as a stand alone label. According to sources, Sony Music's Columbia Records

will take over marketing, promotions and sales.

The label is currently staffed with less than

10 Loud employee's, which are A&R and some senior management. Steve Rifkind

resigned from the company he built as well, and is said to be focusing on his

marketing company, SRC (short for Steve Rifkind Company) and a new film comapny

that he is launching. Rifkind had been seeking a buyer for Sony's stake in the

label, which is believed to be 75 percent.

Loud recently released the critically acclaimed

LP "Built From Scratch," by the X-ecutioners.