BEYONCE HOLDS AN EMERGENCY MEETING YESTERDAY . . . ABOUT DUMPING JAY Z!!!

just got wind of a EXPLOSIVE REPORT. According to a VERY RELIABLE insider, Beyonce - and number of close advisers, had an EMERGENCY MEETING yesterday.

And noticeably ABSENT from the meeting was her husband JAY Z and all members of his ROC NATION management team.

According to our snitch the meeting was called because of the very TEPID RESPONSE Beyonce's new album received during its PRIVATE SCREENING yesterday. The insider told MediaTakeOut.com, "We had a screening of [Beyonce's new album, entitled] Four. A number of people told [Beyonce's label] privately that they were disappointed with the work."

Given Beyonce's near FLOP with her first single Girls (Run The Word), Beyonce's label team called what we're told was an "Emergency Meeting" with Beyonce.

Among the topics discussed were: re-recording her ENTIRE album (to include more R&B ballads) and DROPPING Jay Z and RocNation as her managers. The insider explained, "A lot of people blame this album on [Jay Z and RocNation]. They think it's time she went with one of the major [Management companies in Los Angeles], at least as far as her music career."

WOW . . . we knew that this was coming. But we didn't think it would be SO SOON!