*So, does LA Reid still have a job with Def Jam or not? Well, if you believe some internet rumors and reports, he doesn’t. Oh yeah, the buzz was that his cohort, The Dream, was also cut loose.

According to reports, Vin Vendi is reportedly behind the pink slips, saying the terminations are due to overzealous spending and poor record sales.

But, upon further review, we find that all the noise about Reid being fired was just that. Noise.

“[The rumors] are completely untrue and without merit,” the spokesman told XXLMag.com.

Ok, we got that, but what about The Dream? Well, so far, we can’t confirm or deny that part of the rumor so we can only assume that if Reid is safe, so is he. But we won’t bet on it.