Warner Music Terminating 600 Jobs in ‘Strategic Restructuring’ Plan

Published on February 8, 2024

Warner Music plans to lay off roughly 10 percent of its workforce—amounting to around 600 employees—as part of cost-cutting efforts. The New York-headquartered entertainment and record label conglomerate announced the job cuts in a Securities and Exchange Commission (SEC) filing (pdf) dated Feb. 7. According to the filing, the majority of the job cuts will impact workers at the company’s owned and operated media properties as well as corporate, and various support functions. The company said it expects to incur roughly $140 million in pre-tax charges as a result of the cuts through severance payments and other termination costs. Those costs will be paid by the end of fiscal year 2026, it said....

Continue reading on website
Other news

Moscow Slams Swedish Decision to Drop Nord Stream Pipeline Sabotage Probe

February 8, 2024
Moscow has criticized Sweden’s decision to end its investigation into an act of sabotage that crippled the strategic Nord Stream gas pipeline in 2022.“From the outset, the Swedish authorities … have shown a lack of determination to seriously address the issue [of who was responsible],” Russian Foreign Ministry spokeswoman Maria Zakharova said.She went on to attribute the move by Sweden to its “fea

Bell Canada to Lay Off 9 Percent of Workforce, Sell 45 Radio Stations

February 8, 2024
Bell Canada today announced its plans to cut nine percent of its workforce and sell 45 of its 103 regional radio stations across the country.An open letter from CEO Mirko Bibic on Feb. 8 revealed that 4,800 jobs “at all levels of the company” would be cut as part of a company restructuring effort. The workforce reduction, the largest in nearly 30 years, will occur over the “coming weeks,” accordin