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Layoffs have impacted every industry, but the entertainment sector has been hit extremely hard. Gucci Mane admits to to monitoring these shakeups.
Now, the “TakeDat” rapper announced upcoming updates to his 1017 Records roster. On October 18, Gucci Mane took to his official Instagram to outline his pending decision.
“I just seen my P&L (profits and losses) with all my artists,” he said. “You know it’s a whole sh*t show in the industry right now, but when I’m looking at my P&L, and me being a businessman, I think that I’m going to have to release almost all my artists, except for Pooh Shiesty and Foogiano.”
Prior to Gucci Mane’s video, 1017 Records lineup reportedly consisted of Bigwalkdog, Brezden, Foofiano, Hotboy Wes, Kato2x, Li Rye, Lil Zay, and Mac Critter. Sadly, several acts including Enchanting and Big Scarr tragically died from drug overdoses. Currently, Pooh Shiesty and Foogiano are serving time behind bars for separate legal cases.
Gucci Mane went on to say: “This is a decision I didn’t want to make. I thought about it. I could keep all of them under the contract. But I said hey, fuck it. Let’s just make the unselfish decision, and let them take their talents elsewhere.”
Before you find yourself upset at the news, Gucci claimed to have “already reached out” to those he intend to drop. However, Gucci remains steadfast that he is still “looking for new talent” to join both Pooh Shiesty and Foogiano, and that remains where he plans to focus his efforts.
Still users online took to his comment section to urge aspiring acts to stay away claiming his record label is “cursed.” This is a claim Gucci Mane’s wife Keyshia Ka’Oir previously slammed.
