Major label restructuring is nothing new in the music business, especially in the digital age of iTunes and artists commanding their careers by introducing music via social networking sites like Twitter. Friday (Oct. 7), news broke that Jive Records, Arista Records and J Records will cease to exist and the companies will now move under the fold of RCA Records.

RCA COO Tom Corson says the decision to "retire" and tuck the three long-standing labels under one brand is a focus on reinventing RCA. However, he's quick to follow-up with a remark that the downsizing may not be permanent; the record labels could possibly be rebirthed in the future if the need arises.

"We've learned to work with less and hopefully accomplish the same or more," Corson tells The Hollywood Reporter. "But by definition, the business has shrunk -- the staffing has shrunk, our rosters are smaller. But we're still profitable. Like any other business, you have to make money. But we're an efficient machine."

RCA has reportedly laid off employees and artists over the past few weeks.

J Records artists like Alicia Keys and Mario will likely make the transition and move under the RCA umbrella as well as Jive acts like Chris Brown and Miguel.

Watch Alicia Keys' Live Sessions at the Beacon Theatre