05/07: WMG Restructuring; Laying Off 400
From
Billboard:
Warner Music Group is planning a restructuring that will include company-wide layoffs totaling 400 staffers and place further emphasis on digital strategy and distribution, sources say.
paidContent.org reports:
The company plans to simultaneously invest in new initiatives, including more hires for its digital operations. On Monday, WMG said it was creating a new production division designed to develop and produce original programming for network, cable, DVD, broadband and mobile platforms.
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