Warner Music Group Eliminating 270 Positions
• Warner Music Group has become the latest in a long line of major media companies to undergo downsizing, as CEO Robert Kyncl announced WMG will eliminate about 270 positions — about 4% of its global workforce.
Kyncl broke this tough news in a staff memo that reads, in part, “In my 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. Consistent with this direction, we’ve made the tough decision to reduce our global team by approximately 270 people, or about 4%. At the same time, we’re reallocating resources towards new skills for artist and songwriter development and new tech initiatives. We’re also reducing discretionary spending and open positions to provide us with additional flexibility for our future.
The memo continued, “I want to be clear that this is not a blanket cost-cutting exercise. Every decision has been made thoughtfully by our operators around the world, who considered the specific needs, skills, and priorities of each label, division, and territory, in order to set us up for long-term success… I’m also acutely aware of how unsettling this can be. Having to say goodbye to talented colleagues is always difficult. For those of you who will be leaving WMG, please know that we’re deeply grateful for your hard work, dedication, and all you’ve contributed to this company.”
RAMP will be standing by to publish the names and contact information of any displaced WMG employee that wishes to publicize their departure — Kevin@RAMP247.com.
