Is Def Jam floundering? That's what one tipster claims, bringing (unverified) word that some 40 people were laid off today at the record label – home to Ne-Yo, Rihanna, Fabolous, Bobby Valentino, and Young Jeezy – with a number of executives fleeing last week. "Jay-Z, L.A. Reid and Jermaine Dupri are still getting paid millions ... and running the company into the ground," says a source.

What? Jay-Z a wasteful spender?

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