Diddy’s media company Revolt has laid off a third if its staff this week due to restructuring. CEO Roma Khanna addressed the layoff in a letter saying, “As a part of addressing our challenges, today we implemented a very difficult decision to take action to streamline our team and operations to deliver on this new vision and to create a healthy and strong company. Effective immediately REVOLT will resize and refocus. These changes will result in the elimination of just over 50 positions in both New York and Los Angeles, across divisions of the company. We are simplifying the way we work and shifting our resources to allow us to invest in the stories we want to tell in a new way and with higher impact.
We will work with more outside voices, producers and influencers while maintaining a strong editorial core in-house. We will also create a more healthy and stable business base from which we can grow. And we continue our proud record of being over 65% culturally diverse and nearly 50/50 gender balanced.”
Although Diddy claims there is no beef between him and 50 Cent, 50 took the opportunity to throw shots at Diddy’s business acumen saying “l can fix this if you need help, but you can’t be acting like no punk around me man Damn!!!” 50 is trying to creep up that list of Richest Rappers with the launch of a new champagne Le Chemin du Roi, his TV show Power and movies in the works.