Songtradr has issued a statement regarding its acquisition of music download store Bandcamp and potential layoffs that may follow. The statement, issued in response to a press release sent out by Bandcamp’s union, Bandcamp United, claims that Songtradr doesn’t yet own the company and that its acquisition will be finalised in the coming weeks.
The statement also says that not all employees will be kept on once the merger is complete, stating: “Not all Bandcamp employees will receive offers from Songtradr. Based on its current financials, Bandcamp requires some adjustments to ensure a sustainable and healthy company that can serve its community of artists and fans long into the future. Those that don’t receive offers within the next few weeks will receive severance from Epic as part of their layoffs as communicated on September 28th.”
The statement goes on to say: “Songtradr is planning to keep all the existing Bandcamp services that fans and artists love including Bandcamp Fridays, Bandcamp Daily and its artist-first revenue share.”
In Bandcamp United’s original press release, the union demanded: “Employment offers for all workers; clear, consistent, and equitable voluntary severance offers; and recognition of their union at Songtradr with a speedy continuation to bargaining while maintaining all the progress that has been made at the table.”
Songtradr says it is reviewing Bandcamp United’s letter.
Songtradr, one of the world’s largest music licensing companies, acquired Bandcamp from Epic Games less than 18 months after the videogame company acquired it.