* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

    The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Entertainment

Universal Music Layoffs Leave Staff and Artist Camps Lamenting the Drawn Out Process

March 2, 2024
in Entertainment
Universal Music Layoffs Leave Staff and Artist Camps Lamenting the Drawn Out Process
Share on FacebookShare on Twitter

It’s been a nerve-wracking week for Universal Music Group employees — many did not know when they went to the office on Wednesday morning if they’d have a job on Friday. Layoffs hit department heads first and then started to impact the rank and file.

Over the past year, more than a dozen companies across the music business have undergone layoffs, eliminating thousands of jobs and leaving those who remain in a state of uncertainty. In the past twelve months alone, Warner Music Group, Atlantic Music Group, SiriusXM, Amazon Music, TikTok Music, CAA, Discord, BMG, TIDAL and Spotify have all cut staff.

This week, Universal Music Group followed suit, instituting layoffs in search of around $270 million in annual savings. The process started Wednesday and continued through Friday (March 1), impacting publicity departments, radio teams, A&R, marketing and more.

The cuts are part of a restructure of UMG’s label operations that chairman/CEO Lucian Grainge announced in an internal memo on Feb. 1. The shift reorganized the company loosely into an East Coast-West Coast orientation, with Republic Records CEO Monte Lipman overseeing Republic, Def Jam, Island and Mercury, and Interscope Geffen A&M chairman/CEO John Janick responsible for Interscope, Geffen, Capitol, Motown, Priority, Verve and Blue Note.

For UMG employees, the long runway leading into the layoffs — which were first hinted at back in October — combined with the fact that the company announced on Wednesday morning that it had earned more than $12 billion in revenue and $1.3 billion in net profit in 2023, has caused frustration, anger and anxiety, even for those who kept their jobs. That the layoffs came immediately following the annual earnings report, sources say, has led to greater frustration.

Though the scenes employees describe are typical for any company undergoing large-scale layoffs — the slow drip of news about who’s been let go, and colleagues crying as they pack up their desks, for example — UMG’s layoffs have had an outsized impact on industry morale because of the label’s position as the dominant market leader, its strong financial results and the extended period for which employees have known the cuts were coming.

In an email to staff, Grange said that “by reimagining our global structure, we are creating a blueprint for a future where our labels are empowered with new capabilities and additional agility, ensuring they can sign and support artists with enhanced access to UMG’s highest-performing internal teams and resources.” He added, “This organizational redesign represents a new paradigm for artist support and fan engagement.”

UMG first signaled its cuts during an earnings call with financial analysts at the end of October. “[We] are currently conducting a careful review of our cost base, which we will complete over the coming months, and we will update you when appropriate about an anticipated cost savings program to commence in 2024,” said Boyd Muir, the company’s executive vp and CFO. Grainge added that the company planned to “cut overheads in order to grow elsewhere.”

Earnings calls are, by nature, full of statistics and jargon like “adjusted EBITDA.” In January, the human cost of “cutting overhead” started to become clear: That would mean laying off hundreds of employees. In a statement at the time, UMG said “we are creating efficiencies in other areas of the business so we can remain nimble and responsive to the dynamic market, while realizing the benefits of our scale.”

The October earnings call did not make big headlines at the time. But many employees saw the January reports that layoffs were looming. “Every day I wake up thinking, is this the day I lose my job?” a UMG employee said in February.

“It is a particular kind of torture to leave people guessing for an extended period of time,” adds a music lawyer who has artist clients signed to UMG labels. “Your job is your No. 1 source of security. You add on top of already stressed individuals’ psyche the uncertainty of whether or not they’re gonna have a job tomorrow and draw that out for months.”

A UMG spokesperson declined to disclose any headcount for the cuts. In the meantime, sources say executives and department heads have received some generous exit packages on their way out the door.

For others outside the labels who work with them on behalf of clients, the layoffs — at UMG, at Warner, where dozens were recently let go at Atlantic Records, and amid rumors that other labels will be following suit — have also made life difficult. With UMG specifically, one manager with an artist signed to a UMG label says that the stress permeating the labels has made it hard to plan a rollout for his act. And a second music attorney notes that it’s been hard to do record deals within the UMG system knowing that the teams his artist speaks with may not be around by the time the deal is done.

Artist teams are also trying to understand how the cuts impact them. “The more I hear, the more stressed I am,” says another manager. There are “lots of firings across different positions. Some people are getting moved into jobs they aren’t in any way prepared for. And some people are now being asked to do what was previously three different jobs at once.”

There are more cuts to come in a “phase two” of the “strategic organizational redesign” next year, according to UMG’s investor presentation this week, which stated that “a combination of further ex-U.S. headcount reduction and other operational efficiencies” was set to begin in 2025. But not a single financial analyst asked questions about the extent of the layoffs on Wednesday. Instead, they asked about UMG’s battle with TikTok.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Billboard – https://www.billboard.com/pro/universal-music-layoffs-staff-artist-process/

Tags: entertainmentMusicuniversal
Previous Post

Nas Partners With Casino to Spur Economic Development in Queens

Next Post

Richard Lewis’ Wife Joyce Says Late Comic Would Be ‘So Touched’ by Heartfelt Tributes

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

September 7, 2025
The US Economy Is at a Turning Point—and the Stakes Are Higher Than You Might Think – Morningstar

The US Economy Stands at a Crucial Crossroads-Here’s Why It Matters Now More Than Ever

September 7, 2025
The Secret to What Made ‘CarJack’ Work on As the World Turns – yahoo.com

The Surprising Secret Behind ‘CarJack’s’ Success on As the World Turns

September 7, 2025
Fighting a health insurance denial? Here are 7 tips to help – Los Angeles Times

7 Powerful Strategies to Beat Health Insurance Denials and Secure the Coverage You Deserve

September 7, 2025
Florida Surgeon General admits he didn’t study impact before calling to lift vaccine mandate – CNN

Florida Surgeon General admits he didn’t study impact before calling to lift vaccine mandate – CNN

September 7, 2025
WA Department of Ecology decries federal report that downplays climate change – KREM

WA Department of Ecology decries federal report that downplays climate change – KREM

September 7, 2025
This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

September 7, 2025
Diagnostic dilemma: Woman’s severe knee pain reveals ‘golden threads’ in her joints – Live Science

Mystery Solved: Woman’s Severe Knee Pain Traced to Shimmering ‘Golden Threads’ in Her Joints

September 7, 2025
PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

September 7, 2025
Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

September 7, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (811)
  • Economy (829)
  • Entertainment (21,707)
  • General (16,904)
  • Health (9,871)
  • Lifestyle (842)
  • News (22,149)
  • People (831)
  • Politics (836)
  • Science (16,039)
  • Sports (21,328)
  • Technology (15,809)
  • World (811)

Recent News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

Pope Leo appeals for peace in Holy Land, Ukraine, areas of world marred by war – Vatican News

September 7, 2025
The US Economy Is at a Turning Point—and the Stakes Are Higher Than You Might Think – Morningstar

The US Economy Stands at a Crucial Crossroads-Here’s Why It Matters Now More Than Ever

September 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version