Common Music Group is planning what could turn into a whole lot of job cuts to its recorded music division in its first quarter, in response to quite a few experiences.

An organization spokesperson confirmed the layoffs on Friday, however didn’t say what number of have been anticipated. The corporate has greater than 11,000 staff worldwide.

If the layoffs happen, UMG would be part of a rising checklist of media and tech firms which have minimize overhead. Warner Bros. Discovery, Disney, NBCUniversal, Google and others have already trimmed.

A UMG spokesperson instructed Music Enterprise Weekly: “We proceed to place UMG to speed up its management in music’s most promising development areas and drive its transformation to capitalize on them.

Over the previous a number of years, we have now been investing in future development—constructing our ecommerce and D2C operations, increasing geographically and leveraging new applied sciences. Whereas we keep our industry-leading investments in A&R and artist growth, we’re creating efficiencies in different areas of the enterprise so we will stay nimble and attentive to the dynamic market whereas realizing the advantages of our scale.”


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