As share prices continue to fall in the online mega-site, Beatport has cut a whole engineering team from it’s San Francisco office, as well as giving a further 20 employees from their Denver office the flicksies.

In a move which many are presuming to be a run-off action from the SFX takeover in February, multi-mogul Robert F. X. Silverman (questionable middle name, dude) has claimed he’s going to cut the ‘fat’ from the company in the shape of Beatport play and Beatport DJs.

Far from getting any previous bad press (jokes, read this), the monster entity, which went public in October, has been experiencing a considerable fall in share prices ($13.00 to $11.60) – and the questionably executed corporate reconstruction has been pegged as the next step to cutting some serious costs.

“[SFX] is not concerned with anything but the store. It was crazy. It was a fucking bloodbath for sure. Some of the people laid off were working there for almost ten years,” a source told TechCrunch. In what could have been a serious face-palm move from SFX, workers were almost let go via the time-treasured method of a conference call. Released in a statement from SFX, it was later confirmed that, human resources representatives were sent out after fears that workers would trash the office as a final sentiment. The entire statement is here;

With the additional resources provided by SFX, we are making significant new investments in Beatport and focusing on providing the best possible experience for our users – the DJ, the producer, the labels and the entire Electronic Music Culture community. To allow us to adapt and improve our service, it was necessary to make some organizational changes. We have closed our San Francisco office, reorganised our engineering team, and cut some positions in Denver. Beatport has always been about innovation and connection and these moves allow us to focus on that. With the recently announced acquisitions of PayLogic and Arc90, this refocus on maximising Beatport as the definitive site for everything related to Electronic Music is indicative of our commitment to igniting the simmering Revolution of this astounding movement, Electronic Music Culture. We look forward to unveiling a number of exciting new technology initiatives in 2014.

Beatport also justified the lay-offs by signalling a new direction for the business, primarily ticketing and events. Heavily maintaining the statement that it still strives to be the best and richest (don’t those two just go hand in hand) dance forum around, looks like Silverman got his Christmas wish of carving some serious bones of the company.

[via Pulse]