You're Fired!

Or did he quit?

Looks like Jermaine Dupri is out of a job.

According to new reports, Mr. Jackson is no longer President of Island Records Urban Music.

A formal announcement is supposedly set to be released as early as today or tomorrow.

Jermaine has been president of Island for almost two years.

He was responsible for the label's urban music operations and his "duties also included providing production for the Music Group's entire roster."

Last April, Island/Def Jam even created

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