Warner Music to cut 600 jobs, or 10% of staff

Warner Music to cut 600 jobs, or 10% of staff

The Warner Music Group emblem is displayed on a smartphone.

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Warner Music is shedding 600 staff, or about 10% of its workforce, in accordance to a Wednesday submitting.

The firm stated the layoffs are half of a broader restructuring plan aimed toward saving prices to spend money on extra music and “speed up the corporate’s progress for the following decade.” The layoffs are anticipated to save the corporate $200 million by the tip of fiscal 2025.

The majority of the financial savings shall be allotted towards growing funding in Warner Music’s core music items and new applied sciences.

According to the submitting, the job cuts shall be concentrated in groups such because the in-house advert gross sales enterprise and different “varied help capabilities.” The firm expects to full its $85 million in severance funds by the tip of 2026.

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