Meg, Jack, and Moby are free, and 35 staffers at indie label V2 North America are without a job.

White Stripes

V2 North America said today that it laid off its staff Friday and will primarily become a catalog label, with an emphasis on digital sales.

The label's contract with Meg and Jack White's White Stripes previously expired, sending the duo off to negotiate with other labels for distribution for their own imprint, Third Man Records, for future releases.

But dozens of other artists, including Moby, the Crystal Method, Blood Brothers, Gang of Four, Ray Davies, Paul Weller, Grandaddy, Isobel Campbell, and Mercury Rev, are up for grabs.

The moves come from V2 parent company Sheridan Square's decision to restructure its entire operation. It will keep its catalog of music and focus on selling those releases in digital format only. It will continue to release new music from the gospel genre only.

V2 was founded by British entrepreneur and Virgin Records founder Richard Branson in 1996. New York-based Sheridan Square bought the North American assets in February 2006. The company went on a spending spree in 2006, acquiring indie labels Compendia and Artemis; distributor Musicrama; and certain catalog assets of Tone-Cool Records, Triloka, Ropeadope Records, and Vanguard Classical.

It is unclear how the moves will impact artists on labels like Ropeadope and Compendia. Sheridan Square could not be reached for comment.