Apple will cut nearly 200 jobs at Beats following acquisition: report

Apple will cut nearly 200 jobs at Beats following acquisition: report

American technology giant Apple Inc. would slash as many as 200 jobs at Beats Electronics LLC after completing the acquisition deal for the headphone & music company, a person familiar with the matter said.

The Cupertino, California-based Apple's $3 billion acquisition deal for the popular audio equipment & music-streaming company is all set to close on August 1, 2014.

Speaking on the condition of anonymity, the person close to the developments added that Apple would cut jobs in human resources, finance and other divisions of Beats where there would be an overlap between the two companies.

The source with direct knowledge of the reported restructuring said, "Last week everyone was given an offer from Apple. Some were transitional offers with a set end date."

Job cuts are often part of big mergers and acquisitions, and Apple Chief Executive Officer Tim Cook will likely show that Cupertino firm will not behave differently.

When contacted, Monica, Calif.-based Beats' spokesperson Sarah Joyce refused to comment on the report. Tom Neumayr, a spokesperson for Cupertino-based Apple, also declined to comment.

As of end of June this year, Apple had a workforce of 41,300 employees worldwide.

The purchase of Beats, which will give Apple a music streaming service and the widely-popular Beats headphones line, is the biggest acquisition deal in under Tim Cook.

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