Warner Music Group Plans to Lay Off 600 Employees – The Hollywood Reporter
Warner Music Group intends to lay off about 600 staff, equivalent to 10% of its workforce, with the goal of freeing up funds for music investment over the next decade. Many of the job losses will come from the company’s owned and operated media properties, corporate, and support functions. The move is expected to save around $200 million by the end of fiscal year 2025. The company is also considering the sale of Uproxx and HopHopDX and winding down podcasting brand Interval Presents and social media publisher IMGN. Employees are currently being notified and most will be told by end of September 2024.
Leave a Comment