Rocawear Lays Off Half Its Staff

It’s now surfacing that Rocawear laid off just about half its staff last week, firing 28 of 56 workers. This action is being pinned on Jay Z, who along with Dame Dash founded the brand in 1999, but the company is now owned by Iconix, which purchased it in 2007 for $204 million. Jay is still invested in the brand but his contract to promote it has expired.

No one can be really shocked that this company has fallen on tough times. Urban as an apparel category is beyond the death-spiral phase and while this was a big cut in staff, there have probably been smaller cuts made over the past three years. Via Nypost.