Warner Music Group intends to lay off around 600 employees, or 10% of its workforce, mostly from its own media properties, corporate, and support functions. This move is part of a larger strategy to increase music investment over the next decade, with an expected $200 million in savings by the end of fiscal 2025. The company also plans to streamline its operations by potentially selling Uproxx and HopHopDX, and winding down Interval Presents and IMGN, two of its brands. Warner Music Group’s CEO, Robert Kyncl, stated the goal is to create a sustainable competitive advantage by focusing on their core business, artist development, and technological innovation.
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