While CEO Robert Kyncl has spoken broadly of the industry’s and the company’s needs to evolve in an ever-changing environment — the financial boom the music business has seen from streaming is leveling off, whether executives admit it or not — he has demurred from specifics, saying he needs to study the situation more thoroughly before making moves. It would appear that Wednesday’s announcement is one of the first such moves.
Source: Warner Music to Lay Off 270 Staffers, Making ‘Hard Choices in Order to Evolve’