Warner Music Group cutting 270 jobs
Posted by
Remlik (aka Remlik)
Mar 29 '23, 11:29
|
WARNER MUSIC GROUP is cutting 270 positions in a move that CEO ROBERT KYNCL characterizes as "not a blanket cost-cutting exercise" but instead a reorganization necessary "to take advantage of the opportunities ahead of us." The cuts represent about 4% of the WMG staff.
In the memo, obtained by VARIETY and MUSIC BUSINESS WORLDWIDE, KYNCL said that "WMG is positioning itself for this new phase of growth at the intersection of creativity and technology" but that "we need to make some hard choices in order to evolve," leading to the job cuts while the company is "reallocating resources towards new skills for artist and songwriter development and new tech initiatives" and reducing discretionary spending and open positions.
Recognizing "how unsettling this can be," KYNCL wrote that "except where you are explicitly told there will be a review or consultation period, anyone affected will hear from your leaders, supervisors, or People team reps within 24 hours." He added that he will "have more to say about all of this at our next All-Hands meeting, including more details on our plan."
|
Responses:
|
