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.
(58 - 60) Media 59 - 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 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://dev.eurofound.europa.eu/restructuring-events/detail/60315.
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