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Warner Music Announces 600 Job Cuts In Restructuring
Warner Music announces 600 job cuts in restructuring
Warner Music Group has confirmed it will axe nearly 600 jobs or 10 percent of its workforce.
It is part of a strategic restructuring effort aimed at cost savings.
The company is to funnel more resources into music investments and spur growth over the next ten years.
The initiative would generate $200 million in savings by fiscal year 2025.
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The funds will be redirected toward enhancing Warner Music's main music divisions and exploring new technologies.
The layoffs will primarily affect the internal ad sales team and other support roles.
The company plans to allocate $85 million for severance payouts by the end of 2026.
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