Atlantic Music Group Announces Two Dozen Layoffs in Effort to ‘Achieve Maximum Impact for Artists’
variety.comJem Aswad Executive Editor, Music As expected, Atlantic Music Group announced on Monday that it will be laying off around two dozen people, with the majority coming from the radio and video departments.
In an internal memo to the company’s staff obtained by Variety, chairman-CEO Julie Greenwald said Atlantic will be “bringing on new and additional skill sets in social media, content creation, community building and audience insights” in an effort to “dial up our fan focus and help artists tell their stories in ways that resonate.” The move reflects similar ones at the major labels recently, as they recalibrate to meet the leveling-off of streaming growth.
However, Greenwald, who was named chairman-CEO of the Atlantic Music Group — which includes the Atlantic and 300-Elektra labels groups and multiple subsidiaries — in 2022, stressed in the memo that the company will be hiring “ambidextrous” staffers capable of performing multiple roles.
She also emphasized emphatically that the move will not see the company’s “labels being reduced or merged into one another. I can tell you: this is not that, she wrote, presumably referencing Universal’s recent move to consolidate multiple formerly freestanding labels under the leadership of the Interscope and Republic label groups.
Read more on variety.com