Major Labels

Universal Music Cuts 50 Staffers

image from 50 staffers were let go yesterday from across the Universal Music Group.  Most effected appear to be the Interscope and Verve labels as well as Universal Music Group Distribution. The cuts have not reached the more massive scale darting across Twitter on Thursday; and so far represent less than 1% of the total company's global workforce.

UMG remains the top selling label group in the world; but in this climate, no one is immune. "Universal Music Group is continuing to transform our organization to better serve our artists and business partners," the company said in a statement. "Given the current economic climate, we have to be as agile and efficient as possible. Unfortunately, these ongoing efforts have resulted in some redundancy. However, UMG will now be even better positioned to compete in the growing global, digital marketplace."

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  1. “However, UMG will now be even better positioned to compete in the growing global, digital marketplace.”
    Sorry about having to lay you off, and btw, we’re better off without you. Nice.
    For ONCE, just once, I’d like to see a release from major about layoffs of accounting, business affairs, or finance areas. Majors always seem to fire creative people (this time a bunch of Verve marketing and A&R people got whacked). Say what you will about the value of record people, if you’re signed to a major, who do you think actually works the album?
    The last person to turn out the lights when the majors finally die will surely be a finance guy.

  2. i once asked ‘why are we always cutting from marketing staff but never from finance’ They said we need’em…
    The last time i checked there were three times more people in the accounting than the marketing… I think they keep them because they come in handy to calculate the amends or compensations while they paid to our ‘old’ marketing guys 🙂

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