More On Changes At The Orchard

NEW YORK (Hypebot) –

Staffers shared privately with Hypebot that CEO Greg Scholl's exit and yesterday's layoffs came as a complete surprise to most inside the company and were a big hit to moral.

Investors were also less than thrilled by the changes. The Orchard's stock fell 12% yesterday during a mostly flat day on Wall Street. You can track today's progress in the Hypebot music industry stock widget in the right column of the blog.

The rumor mill has Scholl landing in a top position outside of the music industry.