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Universal Music Layoffs Leave Staff and Artist Camps Lamenting the Drawn Out Process
Universal Music layoffs this week have left staff and artist camps lamenting the drawn-out process.
Earnings calls are, by nature, full of statistics and jargon like “adjusted EBITDA.” In January, the human cost of “cutting overhead” started to become clear: That would mean laying off hundreds of employees. “It is a particular kind of torture to leave people guessing for an extended period of time,” adds a music lawyer who has artist clients signed to UMG labels. There are more cuts to come in a “phase two” of the “strategic organizational redesign” next year, according to UMG’s investor presentation this week, which stated that “a combination of further ex-U.S. headcount reduction and other operational efficiencies” was set to begin in 2025.
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