Photo Credit: Warner Music Group
Warner Music Group (WMG) has announced a significant new round of layoffs as part of a sweeping restructuring and cost-savings initiative. The news comes from a staff memo from CEO Robert Kyncl that went out to staff today, July 1.
This move marks yet another major workforce reduction at the company, which has undergone several rounds of layoffs and reorganization since Kyncl assumed his leadership role in 2023.
While the exact number of employees affected in this latest round has not been disclosed, a Securities & Exchange Commission memo details that WMG aims to achieve approximately $170 million in savings through workforce reductions. This is part of a broader plan to cut annual costs by $300 million, with the remaining $130 million coming from reductions in administrative and real estate expenses. The majority of these changes will be implemented over the next three months, with further adjustments expected into the 2026 fiscal year.
Kyncl emphasized that these layoffs are the ‘final phase’ of WMG’s ongoing transformation, intended to future-proof the company and position it for renewed growth. The cost savings from these cuts will be redirected toward A&R, with a focus on a more strategic approach to signing and developing top musical talent, as well as mergers and acquisitions. Notably, WMG has also announced a $1.2 billion catalog acquisition initiative in partnership with Bain Capital, signaling a continued investment in core music assets despite the headcount reductions.
This latest announcement comes on the heels of substantial prior layoffs at WMG. In February 2024, the company cut approximately 600 jobs—about 10% of its workforce—largely impacting its owned and operated media properties including Uproxx, HipHopDX, and IMGN. That move was projected to generate $200 million in annual cost savings by September 2025, with the majority of the funds earmarked for reinvestment in music. Just months before in March 2023, WMG had already reduced its global headcount by 4%, affecting around 270 roles at the company.
These consecutive rounds of restructuring reflect both the volatility and the rapid evolution of the music industry. WMG is seeking to adapt its business model and resource allocation to remain competitive in the space—especially as AI has become a giant disruptor in more than just creative spaces. Kyncl has repeatedly stressed that these decisions are necessary to ensure WMG’s long-term sustainability.
