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Warner Music 10% Job Cuts

T

TheBigA

So this story caught my attention, and I'm not sure how I feel about it. Warner Music, one of the Big 3 record labels, is cutting its work force by 10%. Not because of a drop in sales. But because of the opposite. Warner Music had an 11% increase in revenue. What they're doing with the money is reinvesting it in the core recorded music business:

hitsdailydouble.com

WARNER REDUCING STAFF BY 10% : HITS Daily Double

Warner Music Group will reduce its employee headcount by approximately 600 people and reinvest the majority of the money saved in its core recorded-music business. The news was revealed to employees...
hitsdailydouble.com hitsdailydouble.com

They're even selling off some ancillary digital businesses: A couple of music websites and a podcasting business.
 
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