The global workforce of Warner Music Group is being reduced by about 270 positions.
A memo from Warner Music Group CEO Robert Kyncl, obtained by MBW, revealed the news to WMG employees on Wednesday morning (March 29).
“in discussions with our leaders across the company, many of them came to the same conclusion — that to take advantage of the opportunities ahead of us, we need to make some hard choices in order to evolve.”
In addition, he said that “consistent with this direction,” the company has “made the tough decision” to lay off 270 workers worldwide, or about 4 percent of the total workforce.
Warner had about 6,200 employees all over the world as of September 30th, 2022, according to its annual report that year.
Kyncl states that Warner is “redirecting its efforts to cultivate new talent among its artists and songwriters and to advance its technological initiatives.”
To “provide us with additional flexibility for the future,” he continued, “we are also reducing discretionary spending and open positions.”
Kyncl also clarified that this was not an attempt to reduce expenses across the board. Our global operations team has carefully planned for our future success by accounting for the unique requirements of each label, division, and geographic area.