Universal Song Community Confirms Layoffs Following Experiences — Light No Note on the Selection of Affected Employees

Following studies that Universal Song Community (UMG) would transfer forward with layoffs, basically the most critical label has confirmed a forthcoming personnel reduction.

We reported on the planned cuts – protection of which was followed by a stock-mark development for UMG – over the weekend. In accordance with an initial article from Bloomberg, which cited “individuals with recordsdata of the subject,” the leading song company intends to share methods with “a model of” of crew members.

Additionally, the identical source, pointing to comments made by in-the-know people “who weren’t approved to discuss publicly,” relayed that UMG’s recorded song division would be hit hardest by the first-quarter layoffs.

Whereas it stays unclear precisely what number of staff (who numbered about 10,000 at 2022’s conclusion) will be affected, the profit-minded Universal Song has genuinely acknowledged the upcoming cutbacks.

Per a summary from Reuters, a UMG spokesperson effectively-known that the professional residence of Drake and Taylor Swift “will lay off some staff in 2024.”

Digital Song News reached out to Universal Song for a straight away confirmation of the layoffs – and doubtlessly minute print as to their accurate extent. A consultant from UMG Investor Family excellent equipped this terse assertion: “In the intervening time, we don’t have extra recordsdata beyond what has already been shared.”

In any event, it was excellent earlier in January that UMG head Lucian Grainge in an roughly 2,500-be aware memo to workers touted his company’s 2023 efficiency high system – eliciting criticism in the technique.

Towards the finish of the optimistic file – which was, surely, made on hand in its entirety by quite so a lot of retail outlets – the effectively-compensated exec briefly mentioned plans to “further evolve our organizational structure.”

“In 2024, as we proceed our enterprise-leading investments in A&R and artist construction,” reads the relevant sentence as printed by Billboard, “we are in a position to further evolve our organizational structure to construct efficiencies in completely different areas of the enterprise, so we can dwell nimble and responsive to opportunities as they arise, whereas also taking fair real thing about the advantages of our scale.”

Given the layoffs confirmation’s timing, evidently this organizational hunch refers at the least in share to the crew-size reduction. “I promise 2024 will be an especially thrilling and transformative one year for our company,” Grainge pledged in closing out the memo.

Evidently, for those whose jobs are striking in the steadiness, 2024 has, if anything, confirmed “thrilling” for the total imperfect causes to this point. With the quickly-to-be-made layoffs position in stone, evidently UMG staff are aloof waiting in suspense for specifics.

At the time of this writing, no impacted particular person looked to have penned a social media or LinkedIn post on the self-discipline, nor had any file indicated that the layoffs had been made reliable. In an analogous device, UMG hadn’t explained the cuts by a standalone announcement message.