Atlantic Music Group chairman/CEO Julie Greenwald announced layoffs of about two dozen people Monday, primarily in the radio and video departments, in an internal memo to staff obtained by Billboard.
As part of the announcement, Greenwald also said the company would be “bringing on new and additional skill sets in social media, content creation, community building and audience insights,” with the goal of “dial[ing] up our fan focus and help[ing] artists tell their stories in ways that resonate.”
Greenwald, who has been at Atlantic Records for 20 years, was named chairman/CEO of the newly-formed Atlantic Music Group in October of 2022, with oversight of Atlantic Records and its subsidiaries (Atco, Big Beat, Canvasback) as well as 300 Elektra Entertainment, which includes 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA and Public Consumption. In that role, she is still co-chair/COO of Atlantic Records alongside co-chair/CEO Craig Kallman.
“Our artists today need more support from us than ever — in a world that’s getting noisier, faster, and more fiercely competitive,” Greenwald wrote.
“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 news comes three weeks after Warner Music Group CEO Robert Kyncl announced that WMG would be cutting its staff by 10%, or some 600 employees, amid a broader reallocation of resources that will involve selling its owned and operated media properties, such as HipHopDX and Uproxx. That move came the same day that Warner announced it had had its best quarter ever, with revenue up 17% to $1.75 billion, and that the moves would be about freeing up some $200 million to reinvest in the company.
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