Apple to lay off about 200 people at Beats: Bloomberg

Beats headphones
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Apple intends to lay off about 200 people at Beats Electronics following its $3 billion acquisition of the headphone and music streaming services company, according to Bloomberg, citing a person with knowledge of the restructuring.

The job cuts will mainly hit human resources, finance and other departments with significant overlap between the companies, the news agency reported.

New AppleTV delayed until next year: Report

Apple's largest acquisition in decades, announced in May, lands the iPhone maker a fast-growing music subscription business, executives like Jimmy Iovine with strong ties to the recording industry, and a line of premium headphones.

By Reuters