Layoffs Begin at Atlantic Music Group
variety.comJem Aswad Executive Editor, Music As expected, in the wake of the impending departures of top Atlantic Music Group executives Julie Greenwald and Kevin Liles, a large wave of layoffs have begun at the storied company as it begins what Warner Music CEO Robert Kyncl describes as “a new dynamic structure for the label group.” Numbers were unclear at the time of this article’s publication and a rep for the company declined comment, but they are likely to number well into the hundreds.
Incoming Atlantic CEO Elliot Grainge officially starts work on Oct. 1; Warner’s head of recorded music, Max Lousada, also announced his departure earlier this year, clearing the way for a structure in which all of the company’s label and publishing heads report directly to Kyncl.
The streaming boom that lifted the music industry’s fortunes in the mid-2010s after years of decline has leveled off, — with the recorded-music industry posting just 4% growth in the first half of 2024 after many years of double-digit increases — and all three major companies and many others have been laying off staff throughout the year.
The downsizing seems likely to continue in the coming months as the industry seeks new revenue sources to replace the slowing income from streaming.
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