Atlantic Music Group announced another round of staff layoffs as part of its ongoing reorganisation, continuing its efforts to reshape the company. The layoffs, announced on Thursday, 19 September, are expected to impact between 150 and 175 employees, according to industry sources.
The departures include several high-ranking executives. This latest reduction comes amid broader restructuring across Warner Music Group (WMG), which has been undergoing significant changes under CEO Robert Kyncl since early 2023.
This latest round of layoffs follows the August announcement that Elliot Grainge, founder of 10K Projects, will take over as CEO of Atlantic Music Group starting 1 October. As part of this transition, Grainge’s 10K Projects will move under the Atlantic Music Group umbrella, joining Atlantic Records, Elektra and 300, while long-time executive Julie Greenwald prepares to depart.
This latest round of layoffs is the fourth within the Warner Music Group family over the past year and a half. In March 2023, WMG cut around 270 jobs, amounting to four per cent of its global workforce, and followed up with a further 10 per cent reduction in staff earlier this year, primarily from its media properties. Additional layoffs were carried out in February, targeting roughly two dozen employees in the radio and video departments.
As part of the reorganisation, Warner Records will now oversee Warner Music Nashville. Several key departments, including global catalogue, marketing, ADA (distribution), and WMX (the fan and merchandise division), will report directly to Kyncl. This restructuring aims to improve efficiency and foster a more integrated approach across Warner’s various music divisions.
Kyncl, who took over as WMG’s CEO at the beginning of 2023, has been actively retooling the company to meet the demands of an increasingly fast-paced and competitive music industry. His focus has been on creating a leaner, more agile company that can capitalise on new opportunities in the market, particularly in digital and streaming sectors.
While these layoffs are undoubtedly difficult for those affected, Atlantic Music Group’s leadership remains focused on driving innovation and maintaining its position as a leader in the music industry. As part of this vision, the company is expected to introduce new resources and skill sets to strengthen its business units, ensuring that it can continue to support artists and deliver outstanding results in the years ahead.
