Up to 10% of Warner Music staff may be laid off.
- The company announced a restructuring plan that includes 600 layoffs to reduce expenses.
- The company expects the layoffs to save about $200 million in costs.
According to a Wednesday filing, the company is laying off approximately 10% of its workforce, which amounts to 600 employees.
The company announced that the layoffs are part of a broader restructuring plan aimed at reducing costs to invest more in music and accelerate growth for the next decade. The layoffs are expected to save the company $200 million by the end of fiscal 2025.
The bulk of the savings will be used to boost investment in Warner Music's main music divisions and emerging technologies.
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