Universal Music Group is reportedly preparing to cut ‘hundreds’ of jobs in Q1, with UMG’s recorded music to be ‘hit the hardest.’ “We continue to position UMG to accelerate its leadership in music’s most promising growth areas and drive its transformation to capitalize on them,” said a spokesperson for UMG on Friday. “Over the past several years, we have been investing in future growth — building our e-commerce and D2C operations, expanding geographically, and leveraging new technologies.”
Source: Universal Music Preparing Major Layoff Round of ‘Hundreds’