You're Fired!

Or did he quit?

Looks like Jermaine Dupri is out of a job.

According to new reports, Mr. Jackson is no longer President of Island Records Urban Music.

A formal announcement is supposedly set to be released as early as today or tomorrow.

Jermaine has been president of Island for almost two years.

He was responsible for the label’s urban music operations and his “duties also included providing production for the Music Group├óΓé¼Γäós entire roster.”

Last April, Island/Def Jam even created TAG Records, a joint venture tied with Procter & Gamble’s TAG brand that was overseen by Dupri.

Well, things appear to have soured quite quickly.

Wonder what went wrong????

Hopefully Jermaine will take to his vlog and “set the record straight” soon!

[Image via WENN.]