Warner Music Group-owned Atlantic Music Group is making around two dozen layoffs.
The news was announced in a memo sent by Atlantic Music Group Chairman and CEO, Julie Greenwald, to the company’s staff on Monday (February 26), and obtained by MBW.
Greenwald explained in the memo that the staff changes will primarily impact the label group’s radio and video teams.
Greenwald said that Atlantic will “preserve our industry-leading position in those areas, while bringing on new and additional skill sets in social media, content creation, community building and audience insights”.
Added Greenwald: “This will allow us to dial up our fan focus and help artists tell their stories in ways that resonate.”
Within the memo, Greenwald explained that Atlantic Music Group was tasked “last year to examine our staffing and ask the tough question, how do we achieve maximum impact for our artists in this ever-changing landscape?”
“As hard as it is to say goodbye to our friends and valued colleagues, it is critical that we keep retooling the company and add new resources and skill sets to our business units.”
Julie Greenwald, Atlantic
Greenwald added: “As hard as it is to say goodbye to our friends and valued colleagues, it is critical that we keep retooling the company and add new resources and skill sets to our business units.
“I have now been at Atlantic for 20 years. The company has grown and evolved tremendously, because we have not been afraid to implement change and add new marketers, new A & R, new data and research and even new labels.
“Always evolving but with a consistent North Star : sign the best musicians and commit to the hardest work of building real careers through true artist development.”
Monday’s news arrived three weeks after Warner announced that it is laying off around 600 staff, or about 10% of its workforce – a move that Warner Music Group CEO Robert Kyncl said on the company’s earnings call is part of an efficiency drive that will save the company $200 million by September 2025.
The majority of these layoffs will take place within WMG’s ‘owned and operated’ media properties, some of which the company plans to sell.
“We’re in an exclusive process for the potential sale of the news entertainment websites Uproxx and HipHopDX, with more to say on that soon,” Kyncl told analysts on the call earlier this month.
Greenwald was promoted to the role of Chairman and CEO of the newly-created Atlantic Music Group entity in October 2022.
The exec oversees Atlantic Records (including the Atlantic, ATCO, Big Beat, and Canvasback labels) as well as 300 Elektra Entertainment, which encompasses 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA, and Public Consumption.
Greenwald and Craig Kallman continue to jointly lead Atlantic Records, with Kallman as Chairman and CEO.
You can read Julie Greenwald’s note to staff in full below:
Dear Atlantic, Elektra and 300,
Two weeks ago, during the all hands call you heard Robert and Max talk about the evolution of our music company. They tasked us last year to examine our staffing and ask the tough question, how do we achieve maximum impact for our artists in this ever changing landscape?
As hard as it is to say goodbye to our friends and valued colleagues, it is critical that we keep retooling the company and add new resources and skill sets to our business units. I have now been at Atlantic for 20 years. The company has grown and evolved tremendously, because we have not been afraid to implement change and add new marketers, new A&R, new data and research and even new labels. Always evolving but with a consistent North Star: sign the best musicians and commit to the hardest work of building real careers through true artist development.
Our artists today need more support from us than ever – in a world that’s getting noisier, faster, and more fiercely competitive. We have to do more, but at the same time, our approach has to be authentic, bold, and bespoke to individual artists. We can’t impact culture if we don’t have the right mix of people who live that culture. That’s why we need dedicated teams of multi-talented, ambidextrous people – our ‘SWAT teams’ – who encircle the artist and do everything possible to help achieve their full potential.
The changes we’re making today are primarily happening in our radio and video teams. We’ll preserve our industry-leading position in those areas, while bringing on new and additional skill sets in social media, content creation, community building and audience insights. This will allow us to dial up our fan focus and help artists tell their stories in ways that resonate.
As part of this shift, I’m sorry to say about two dozen people will be leaving us from across our three labels and their imprints. We’ve already informed everyone who is impacted. I know we will all support each other, even more than usual, and I deeply appreciate your empathy and understanding.
We’ve all heard the same industry rumors about labels being reduced or merged into one another. I can tell you: this is not that. We’re deeply committed to the unique cultures across our labels, led by 300, Elektra and Atlantic. Craig, Kevin, and I passionately believe these identities are crucial to attracting great artists and building great careers. We want artists to be choiceful about the culture and team they belong with, just as we’re thoughtful about deciding which artists we’re signing.
Right now, there’s incredible music coming through from artists across the entire group. We have some of our biggest superstars returning, and some extraordinary new artists we’re building in a very real way. We’re taking the right step into the future, and I hope you’ll continue to share your ideas with senior management so we can continually improve.
