Billboard Magazine is bleeding top talent, with publisher Lisa Ryan Howard and editor-in-chief Danyel Smith handing in their walking papers, TheWrap has learned.
In addition, deputy editor Louis Hau and other high-level staffers have exited the music industry's leading trade, according to sources close to the publication.
According to those individuals, Billboard is in the process of cutting costs. Raises have also been few and far between. This has produced low morale, and prompted these exits, as well as a fast rate of turnover in general.
A Prometheus spokeswoman did not immediately return a request for comment.
Three different top editors have left Billboard in the past three-and-a-half years.