Fri Sep 20 13:35:00 UTC 2024: ## Atlantic Records Faces Layoffs as WMG Reorganizes Ahead of New CEO

**London, UK** – Atlantic Records employees are facing uncertainty following the announcement of layoffs as part of Warner Music Group’s (WMG) anticipated reorganization. The changes, which will take effect before Elliot Grainge assumes the CEO position on October 1st, were revealed in a memo from WMG boss Robert Kyncl.

While the exact number of staff being let go remains undisclosed, sources suggest between 150 and 175 employees will be impacted. This includes a number of senior executives who are reportedly following former chief Julie Greenwald out the door.

Kyncl stated in the memo that the decision to make the changes in one go was made to avoid a piecemeal approach. He also mentioned that more details regarding the plan for Atlantic Records will be shared next week, with Grainge making an announcement about the leadership team.

This news comes as WMG undergoes a significant restructuring process, with the appointment of Grainge as CEO marking a new era for the company. The layoffs are likely a response to the evolving music industry landscape and the need for a more streamlined and efficient organization.

**Beyond the Layoffs**

This news follows a recent announcement from French labels body SNEP, which reported positive growth in the country’s recorded music market driven by streaming. Meanwhile, the US Federal Trade Commission (FTC) published a report analyzing the data collection practices of music streaming services.

Music Ally continues to provide valuable insights into the global music industry, offering analysis, expert advice, and the latest news through its website, podcast, and newsletter. The organization also hosts events like the Music Ally Pro Live series, which focuses on elevating the fan experience.

Read More