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Rocawear Having Financial Issues?

| Filed under: Fashion SmashionJay ZBusiness Blitz

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Bad news for Rocawear staff members.

Jay Z’s company has laid off half of their employees!

The rap mogul actually sold his company back in 2007 to Iconix Brand Group but he stayed on as a shareholder.

He’s also responsible for product development as well as marketing and licensing.

Unfortunately, the company blames the bad global economy for the loss of all those jobs.

They had to let go of 28 of their 56 employees.

Times are tough.

[Image via WENN.]

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