Rumors of layoffs and instability at the Napster digital music service have been rolling around the Net over the past few days. For the record, the company says a change in strategy that will push customers to its Napster.com site has resulted in "approximately ten middle management redundancies world-wide." No other reductions are contemplated, the company added in a statement.
Fair enough. The company has shown respectable growth over the last year, doubling its revenue, and reaching half a million subscribers. But with a digital music market getting more crowded by the minute, and still dominated by Apple, the company is very far from being out of the financial woods.