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Verve Records, Universal Music’s venerable jazz label, has been downsized and shifted to the domain of Bruce Resnikoff’s Universal Music Enterprises.

Verve Music Group prexy-CEO Ron Goldstein ankled the label last week and a dozen of the company’s 40 employees are being pinkslipped. Staffs at sub-labels such as Verve Forecast are not being touched.

Verve general manager Nate Herr will be in charge of day-to-day operations and will continue to sign artists to the label, which will function as a standalone imprint.

Universal Music Enterprises is UMG’s catalog and reissue unit, which has also started issuing new recordings from established artists such as Peter Frampton and Todd Snider.

Once one of the largest jazz labels in the world, Verve boasted a roster of instrumentalists in the 1990s that included Joe Henderson, Christian McBride, Clarence “Gatemouth” Brown and Kenny Barron. In recent years, it has become a home for vocalists topped by Diana Krall. Imprint’s recent releases include recordings by Gladys Knight, Natalie Cole and Loreena McKennitt.