Reports have surfaced regarding job cuts at Moog Music’s manufacturing facility in Asheville, North Carolina. According to the Asheville Citizen Times, the renowned synthesizer brand has initiated layoffs, although the precise number of affected employees remains undisclosed. Sources close to the situation have indicated that over half of the existing workforce, including many instrumental craftsmen, faced the unfortunate consequence of losing their jobs. Social media posts from former employees, as noted by Synth Anatomy, have further confirmed these layoffs.
This restructuring comes on the heels of Moog Music’s acquisition by the audio electronics powerhouse, inMusic, which was completed in June of this year. Despite the significant development, Moog Music, represented by a spokesperson, declined to provide any official comments to Newsound.
It’s worth noting that Moog Music had established its Asheville headquarters in 2011, and in 2015, the company transitioned to an employee-owned model through an employee stock ownership plan. However, the landscape shifted dramatically in 2022 when employees embarked on a unionization campaign, advocating for enhanced job security and improved compensation. This year, the era of employee ownership drew to a close with the acquisition by inMusic. Moog Music now joins the ranks of inMusic’s extensive portfolio, which includes renowned brands such as Akai, Alesis, Denon, M-Audio, Marantz, and Numark.
This development raises questions about the future direction of Moog Music and how this acquisition will impact the iconic brand’s legacy in the world of synthesizers and electronic music. As the dust settles, enthusiasts and industry observers will undoubtedly keep a close eye on the company’s next steps.
Frequently Asked Questions (FAQs) about Moog Music Layoffs
What led to the job cuts at Moog Music in Asheville, North Carolina?
Moog Music experienced job cuts following its acquisition by inMusic. While the exact number of layoffs remains undisclosed, sources suggest that over half of the existing workforce, including instrument craftsmen, were affected.
When did Moog Music become an employee-owned company?
Moog Music transitioned to an employee-owned model in 2015 through an employee stock ownership plan.
How did employees react to the acquisition and job cuts?
In 2022, Moog Music employees initiated a unionization campaign, seeking better job security and pay. However, the acquisition by inMusic this year marked the end of the employee ownership era.
What other brands are part of inMusic’s portfolio?
inMusic’s diverse portfolio includes renowned brands like Akai, Alesis, Denon, M-Audio, Marantz, Numark, and now, Moog Music.
What’s the significance of Moog Music’s history in the world of synthesizers?
Moog Music is an iconic name in the realm of synthesizers and electronic music, known for its innovative instruments. The job cuts and acquisition raise questions about the brand’s future direction and its impact on the industry.