The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Media Motion picture, video and television programme production, sound recording and music publishing activities Motion picture, video and television programme production, sound recording and music publishing activities 59 - Motion picture, video and television programme production, sound recording and music publishing activities
100 jobs Number of planned job losses
Announcement Date
1 April 2004
Employment effect (start)
Foreseen end date
Description
The recording industry has been struggling in recent years to overcome declining CD sales amid the rise of CD-burning and online music file-sharing. In this context, Warner Music Germany will cut 100 jobs - almost half of its workforce of 223 people. Warner Germany told FT Deutschland it will hire a outplacement agency to help the axed staff.
Sources
31 March 2004: Financial Times Deutschland
Citation
Eurofound (2004), Warner Music, Internal restructuring in Germany, factsheet number 60315, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60315.
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