Roadrunner Records is to close its UK and Canada offices, and is making huge cuts across its worldwide operation.
The label, home to artists such as Atreyu, Juliette Lewis, Korn, Murderdolls and Nickelback, will close UK offices in the next few weeks, with the label's Canada and Germany offices to suffer a similar fate.
This latest news comes as another huge blow to the rock music industry, following the loss of Sonisphere festival from this year's summer circuit.
The record label is said to be hoping to continue in a smaller form, but at inevitable great impact to the many artists on their current roster.
Roadrunner Records, which has been in operation since 1980, is a division of Warner Music and has long pioneered rock music and breaking new metal bands, including early releases from Metallica.
Thanks for the report to Gigwise.com.