There’s something brewing at Atlantic Records. Variety reports in the wake of the expected departures of Atlantic Music Group’s top executives, Julie Greenwald and Kevin Liles, the company has initiated significant layoffs as it restructures. Warner Music CEO Robert Kyncl referred to this transition as part of “a new dynamic structure for the label group.”
Get this, Atlantic declined to comment, sources told Variety that approximately 170 employees have been affected by the layoffs.
Check this list out … Of those exiting Atlantic are GM/executive VP Paul Sinclair, president of Black music Michael Kyser, EVP of publicity Sheila Richman, marketing EVP Grace James, and SVP of touring Harlan Frey. Over at Atlantic’s sister company, 300 Elektra, notable departures include EVP/general counsel Margo Scott, EVP Chris Brown, head of marketing Katie Robinson, and sales/streaming chief Adam Abramson, among others.
What’s more is Elliot Grainge, Atlantic’s incoming CEO, will officially assume his role on Oct. 1. The reorganization follows Warner’s recorded music head Max Lousada’s decision to step down earlier this year. This new structure will see all label and publishing heads reporting directly to Kyncl. The layoffs are part of a broader industry trend, with several dozen Atlantic employees already let go in the past 18 months.
Guess, ‘stuff happens’ and it’s certainly happening at Atlantic.