Universal Music Group is planning what may become hundreds of job cuts to its recorded music division in its first quarter, according to numerous reports.
A company spokesperson confirmed the layoffs on Friday, but did not say how many were anticipated. The company has more than 11,000 employees worldwide.
If the layoffs occur, UMG would join a growing list of media and tech companies that have cut overhead. Warner Bros. Discovery, Disney, NBCUniversal, Google and others have already trimmed.
A UMG spokesperson told Music Business Weekly: “We continue to position UMG to accelerate its leadership in music’s most promising growth areas and drive its transformation to capitalize on them.
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