Universal Music Group, the world’s largest music company, has launched another round of layoffs affecting senior executives in the United States and Europe as it continues to implement an annual cost-cutting programme worth €250m ($270m).
Reported by Music Business Worldwide on October 14, 2026, the latest restructuring forms part of a broader efficiency drive launched in February 2024, which is expected to run until 2027.
The cost-cutting programme combines workforce reductions with operational changes designed to improve profitability and strengthen UMG’s position in the global music industry.
Among those affected is Nigerian-American music executive Tunji Balogun, Chairman and Chief Executive Officer of Def Jam Recordings, who is expected to leave the company before the end of 2026.
Other executives departing the company include Nicole Wyskoarko and Sam Riback, both Presidents of Artists and Repertoire at Interscope Geffen A&M.
In the United Kingdom, Ben Mortimer is stepping down as President of Polydor Label Group, while Hannah Neaves, President of UMRecordings UK, will move into a consultancy role.
The Chief Artist and Strategy Officer at Universal Music Group UK, Rebecca Allen,
also announced her departure after 27 years with the company.
In Ireland, Mark Crossingham is stepping down as Managing Director of UMG Ireland, with Nick Younger expected to take over the role.
The latest departures follow similar workforce reductions across UMG’s operations in Germany and Canada in recent weeks.
A spokesperson for UMG said the changes were aimed at helping the company respond to evolving industry demands while investing in new technologies and capabilities.
“We’re bringing in new skills and technology and connecting expertise across our teams to deliver greater global impact and greater efficiency,” the spokesperson said.
Despite the restructuring, UMG has continued to record revenue growth.
The company in
April 2026 reported first-quarter revenue of €2.9 billion ($3.39 billion), showing a 8.1 per cent year-on-year increase.
The growth was driven by streaming, physical music sales and acquisitions.
