Universal Music Group (UMG) is cutting jobs and changing label leadership as it enters the final stage of a restructuring announced in 2024, targeting approximately €250 million ($270 million) in annual savings.
The changes, announced internally on Wednesday, October 14, span operations in the United States, United Kingdom and Europe.
Executive departures and transitions
The executives leaving their current positions include:
- Tunji Balogun, chairman and chief executive officer of Def Jam.
- Jim Roppo, chief executive officer of Republic Records.
- Ben Mortimer, president of Polydor Records UK.
- Sam Riback and Nicole Wyskoarko, executives at Interscope Geffen A&M.
- Rebecca Allen, UMG UK chief artist and strategy officer.
- Mark Crossingham, managing director of UMG Ireland.
- Hannah Neaves, president of UM Recordings UK.
- Ivo Sacchi, managing director of UMG Switzerland and Austria.
Balogun is expected to stay at Def Jam until the end of the year to support the transition. Allen and Neaves will take consulting roles, while Roppo has been appointed vice chairman of Warner Records Group.
Expanded leadership responsibilities
Several executives will take on additional responsibilities under the restructuring:
- Tyler Arnold, Mercury chairman and chief executive officer, and Jeffrey Remedios, Republic Collective president and chief executive officer, will take new leadership roles at Republic Records.
- Imran Majid and Justin Eshak, co-chief executive officers of Island Records, will broaden their oversight of UMG’s East Coast labels.
- Laura Carter, Ramon Alvarez-Smikle and Michelle An will assume wider leadership responsibilities at Interscope Geffen A&M.
- Nickie Owen will expand her responsibilities as president of global marketing.
- Nick Younger will lead UMG Ireland.
- Ulf Zick will oversee operations in Switzerland and Austria.
Cost reductions across operations
The restructuring combines workforce reductions, changes to label operations and other savings measures. UMG has been seeking lower expenses while maintaining investment in artists and its global music operations.
Several UMG labels and Universal Music Publishing Group have reportedly been directed to curb unnecessary spending for the rest of the year. Executive travel and other expenses have also reportedly been reduced.
The changes follow September layoffs at Universal Music Canada, where more than a dozen jobs were reportedly cut across marketing, communications, artists and repertoire (A&R), and other departments.
Further leadership announcements are expected as the restructuring concludes. UMG has not publicly confirmed how many positions will be eliminated worldwide.
