Warner Music to cut 600 positions or 10% of staff

Connie Queline

Warner Music to cut 600 positions or 10% of staff

Warner Music Group will eliminate 600 positions, or roughly 10% of its staff, the company said in a statement Wednesday.

Most of the reductions will come from company websites such as Uproxx and HipHopDx, and a podcast network. The cuts are aimed at saving $200 million in costs annually. The company said the money will be directed back into new opportunities.

Universal Music Group is also expected to announce cuts this year, Bloomberg reported last month.

© 2024 Bloomberg

SOURCE

Leave a Comment