The maker of world-renowned synthesizers has slashed jobs at its manufacturing facility in Asheville, the city where Moog Music was based.
The move to cut what sources say were possibly more than half the existing jobs, including most of the production positions, came three months after the international corporation InMusic bought the company. Founded by inventor and sound engineer Bob Moog almost 50 years ago, Moog's instruments have been played by the likes of the Rolling Stones and the Beatles. All of its synthesizers were made in Asheville.
In 2015, the company employed 62 in the synthesizer factory just blocks away from downtown Asheville. That number had grown to around 90 this past year, one source said. After InMusic's June 13 acquisition, payroll was winnowed down by more than a dozen people. The Sept. 22 layoffs cut around 30 jobs, doing away with most workers who built the instruments.
Bob Moog.
Most of the synthesizers will now be made in Taiwan, the sources said.
Very sad to see. Moog Music was a true icon in the industry. Despite some QA issues in recent years, the signature sound and playability of Moog instruments remained strong as the company...
Very sad to see. Moog Music was a true icon in the industry. Despite some QA issues in recent years, the signature sound and playability of Moog instruments remained strong as the company transitioned to employee ownership and for that alone the high premium on their synths could often be justified.
I wonder who owned the 51% and how much money they got? Side note this is my hometown. It was always cool to see the synths on the assembly line as I walked by. Asheville does have a record press...
I wonder who owned the 51% and how much money they got?
Side note this is my hometown. It was always cool to see the synths on the assembly line as I walked by.
Asheville does have a record press now, though, so there’s that.
From what I can find, Mike Adams (former CEO that "sold" the employees the 49%) set up a trust to "essentially lend the company the money to buy out his remaining 51% over the next 6 years". It...
Very sad to see. Moog Music was a true icon in the industry. Despite some QA issues in recent years, the signature sound and playability of Moog instruments remained strong as the company transitioned to employee ownership and for that alone the high premium on their synths could often be justified.
I wonder who owned the 51% and how much money they got?
Side note this is my hometown. It was always cool to see the synths on the assembly line as I walked by.
Asheville does have a record press now, though, so there’s that.
From what I can find, Mike Adams (former CEO that "sold" the employees the 49%) set up a trust to "essentially lend the company the money to buy out his remaining 51% over the next 6 years". It would appear, that buy out never happened, but I am thus far unable to find out why.