Universal Music

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
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
800 - 1,350 jobs
Number of planned job losses
Job loss
Announcement Date
16 October 2003
Employment effect (start)
Foreseen end date

Description

Universal Music, subsidiary of Vivendi Universal, announced a restructuring plan affecting at least 800 workers world-wide. The measure is linked with the loss of EUR 42 billion for the first quarter of 2003 and with the drop in the sale price of the Compact Disc. To date, 7 jobs have yet been dismissed in Belgium.

Sources

  • 16 October 2003: Les Echos
  • 17 October 2003: Les Echos

Citation

Eurofound (2003), Universal Music, Internal restructuring in World, factsheet number 59451, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59451.