Yahoo who recently acquired digital music company Launch Media has announced that it will cut up to 29% of Launch's staff by end of this year. Cuts will include 50 employees, if last week's pink slips are included to the number.
Yahoo says that cuts are made to eliminate redundancies between Yahoo Music and Launch Media. Launch will be merged to Yahoo Music in this year -- Yahoo Music is one of the distribution partners of Pressplay subscription service scheduled to launch this fall.
