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“Significant potential” for cost savings at Universal
By CMU Editorial | Published on Wednesday 17 November 2010
Talking of job cuts, it’s no secret that – while it’s only been EMI that instigated a high profile ‘everybody out’ cull of staff in recent years – the other three majors have been quietly downsizing as well, usually cutting back a small team here and a small team there every now and again.
And it looks likely that the biggest of the majors, Universal Music, will be doing more of that in the next year following one remark from the CFO of their parent company Vivendi, who was discussing his firm’s previously reported quarterly financials earlier this week.
According to The Guardian, Philippe Capron told investors, when talking about his company’s music division, “a lot of fat can be taken out without hurting muscle and bones”, adding that there is “very, very significant potential” for cost savings, and that such measures are included in the plans of Universal’s new top man Lucian Grainge.
Though those cost savings will not just involve cutting headcount, if serious savings are going to be made some redundancies are inevitable.
