Layoffs Begin Hitting Universal Music Group
variety.comJem Aswad Executive Editor, Music As expected, layoffs began hitting Universal Music Group almost immediately after the company’s earnings call on Wednesday.
The moves, which have been signaled by chairman-CEO Lucian Grainge since last fall, were still evolving at the time of this article’s publication, and follow the broad consolidation of the company’s labels under Interscope (West Coast) and Republic (East Coast) groups, under CEOs John Janick and Monte Lipman, respectively.
Sources say the majority of the layoffs, which are said to reach into the high hundreds, are hitting the West Coast, where many roles in the large Interscope and Capitol groups are being combined.
A similar move is taking place on the East Coast, with Def Jam and Island moving under Republic, but those two labels have considerably smaller staffs than Capitol.
Read more on variety.com
