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Universal Music Group carries out fresh layoffs under $270M cost-cutting program
Original: Multiple layoffs at Universal Music Group, as $270M cost-cutting program continues
Universal Music Group has carried out another round of layoffs as it continues a $270 million cost-cutting program. The cuts affect multiple staff across the company as the world's largest music label seeks to reduce expenses and streamline operations amid pressure to improve margins. Further job losses may follow as the restructuring plan runs its course through 2024.
Why now: Ongoing restructuring at the world's biggest music company is prompting concern about job losses across the industry.
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- Multiple layoffs at Universal Music Group, as $270M cost-cutting program continues · Music Business Worldwide
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