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Warner Music Announces Further Restructuring, $170 Million in Staff Cuts
Hours after Warner Music unveiled a $1.2 billion joint venture with Bain Capital, the company announced more restructuring moves, including layoffs.
Two years ago, we began to transform our company; not just to tinker around the edges of an old model, but to build a fast, innovative, and collaborative organization that reflects how music moves in the new world. These wins are powered by our ability to become simultaneously more effective and more efficient… allowing us to invest in great talent, boost our star-making expertise, and deepen our world-building capabilities. For example, we’ll expand the rollout of the WMG Pulse app and add more features to give artists and songwriters insights, while landing the benefits of our financial transformation initiative as well as a vastly improved supply chain and data infrastructure.
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