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UMG to Cut Jobs

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Universal Music Group is a name tat some of you may be familiar with, but for those of you who barely know the name of the artists, let alone the name of the labels that support them, here is a look at how the company has chosen to describe itself, “Universal Music Group (UMG) is the world’s largest music content company with market leading positions in recorded music, music publishing, and merchandising. The recorded music business discovers and develops recording artists and then markets and promotes their music across a wide array of formats and platforms.  UMG’s music publishing company, Universal Music Publishing Group, discovers and develops songwriters, and owns and administers copyrights to musical compositions for use in recordings, public performances, and related uses, such as films and advertisements. Bravado, UMG’s merchandising company, sells artist- and music-branded products via multiple sales point such as fashion retail, live performances, and the internet.”

Sadly the company has just let go of about 60 workers in a bit to make itself more cost effective and reduce the costs that are associated with their staffing. Job cuts of this kind are enough to qualify as a mass layoff action under the current federal guidelines. For those of you who are not familiar with the idea of a mass layoff action here is a look at how the federal government defines the term, “The Mass Layoff Statistics (MLS) program collects reports on mass layoff actions that result in workers being separated from their jobs. Monthly mass layoff numbers are from establishments which have at least 50 initial claims for unemployment insurance (UI) filed against them during a 5-week period. Extended mass layoff numbers (issued quarterly) are from a subset of such establishments—where private sector nonfarm employers indicate that 50 or more workers were separated from their jobs for at least 31 days.” The only good news about a mass layoff action is that the company has to give the soon to be displaced workers several weeks before they cut them loose from the payroll and put them onto the unemployment line.

Interestingly enough the company, in its most recent release, chose not to talk about the job cut that they are making in order to set their budget to right, but instead to highlight the newest executive to join the team, “Def Jam Recordings, a division of Universal Music Group (UMG), expands its A&R senior management team with the appointment of multi Grammy Award®-winning Radio Killa/Def Jam recording artist The-Dream to the post of Executive Vice President of A&R, it was announced today by Barry Weiss, Chairman & CEO of Universal Republic and Island Def Jam Motown, and Karen Kwak, Executive Vice President/Head of A&R, Island Def Jam Music Group. The-Dream will have a comprehensive, broad reaching A&R portfolio. Besides overseeing current and new artist projects, he will actively seek out, discover and sign new talent to the label, and will work closely as a producer for artists on the Def Jam roster and its affiliated labels across all musical genres.”

Update: Universal Music Group hiring now, check here to visit Granted.com for latest openings.

UMG to Cut Jobs by
Authored by: Harrison Barnes