Universal Music cuts senior execs after Canada layoffs

Universal Music Group is laying off staff and losing senior executives in the U.S. and U.K., Variety reported and Music Business Worldwide reported on Oct. 14, weeks after cuts at its Canadian operation.

The cuts are part of a cost-saving program worth 250 million euros, or about $270 million, in annual savings. Music Business Worldwide said the program is due to finish next year.

Variety reported that about a dozen layoffs hit Universal’s Canadian operation in late September, before the wider cuts. Music Business Worldwide said the company recently reduced headcount in certain divisions in Canada and Germany. Neither outlet said which Canadian divisions were affected, and the company has not published a Canadian headcount figure.

Both outlets named the executives leaving. Tunji Balogun, chairman and CEO of Def Jam Recordings, will leave by the end of the year, and Variety said he will stay through the end of the year to help with the transition. Nicole Wyskoarko and Sam Riback, presidents of A&R at Interscope Geffen A&M, are also departing.

In the U.K., Ben Mortimer, president of Polydor Label Group, is leaving. Hannah Neaves, president of UMRecordings U.K., is moving to a consultancy role. Rebecca Allen, chief artist and strategy officer for Universal Music Group U.K., is stepping away after 27 years. In Ireland, Mark Crossingham, the managing director, is stepping down, and Nick Younger will succeed him.

A Universal spokesperson said: “We are deeply grateful for the contributions of the people leaving us.” The company did not give a total number of jobs cut, and neither outlet reported one.

Music Business Worldwide set out the savings timeline. The company achieved 90 million euros in savings in 2025 and expects 40 million to 50 million euros in 2026 and 35 million to 45 million euros in 2027. It said CFO Matt Ellis told analysts on the March earnings call that the company remained “on schedule.”

The cuts come as revenue grows but margins shrink. Variety reported first-half 2026 revenue of nearly $7.2 billion, up 5.3 per cent from a year earlier. Music Business Worldwide reported that Universal’s adjusted EBITDA margin was 20.5 per cent in the second quarter, down from 22.7 per cent a year earlier.

Music Business Worldwide also reported that Jeffrey Remedios, formerly chairman and CEO of Universal Music Group Canada, now holds a leadership role at Republic Records. Canada News Media has not independently confirmed that.

For Canadian artists and the industry, the Canadian cuts land as awards season opens. Drake and Jessie Reyez will be honoured at the SOCAN Awards on Oct. 26, and Juno submissions close Nov. 5. Universal has not said how the Canadian reductions will affect its artist roster. This story is developing.

Via Variety and Music Business Worldwide.

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