If the Music Business Keeps Growing, Why the Layoffs? ...Middle East

During an October earnings call, Universal Music Group CFO Boyd Muir told investors the company was conducting “a careful review” of its costs. In the world of public company statements, that was a hint that UMG expected to make cuts to its workforce of roughly 10,000 — specifically hundreds of jobs in the first quarter of the year, as Bloomberg later revealed. UMG has plenty of company. Until late last year, the music business had mostly escaped the job-cutting that ravaged industries that depend more on advertising in 2022 and 2023. That was still the best of times for the industry, which had found double-digit r

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If the Music Business Keeps Growing, Why the Layoffs? ...Middle East

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