U Music U.K. to cut workforce
Chairman Grainge overseeing a review of business
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As part of the world's biggest record company group, Universal U.K. contributes a healthy chunk of revenues to the global purse. The move toward cuts, instigated by former Universal Music U.K. chairman Lucian Grainge, indicates a clear intention to spend more money in the creative side of the business by streamlining administration and other back-office functions.
Grainge, now chairman of Universal Music Group Intl. -- putting him in charge of the giant company's ops everywhere outside the U.S. -- is overseeing a review of the business and where it targets its resources.
Nobody at U would comment on the job cuts, but sources confirm about 90 U.K.-based jobs could go. That could include some of the 300 or so employees who work at UMGI's headquarters, as well as some of the 850 staffers at other U.K.-based operations.
Move is apparently not about cost-cutting. Insiders say Grainge, who comes from an A&R background, is keen to invest more money in artist development and other A&R activities.
