Warner Music Group Corp. is a multinational entertainment and record label conglomerate. It is the third-largest recording company in the global music industry. The company was founded in 1958 and is headquartered in New York City.
According to reports, Warner Music has announced plans to lay off 600 employees in a bid to cut costs, as the company plans to sell its entertainment arms Uproxx and HipHopDX. The report further mentions that the layoff affects staff in the corporate and media divisions, an initiative expected to lower overhead costs by approximately $200 million annually by 2025.
