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Universal Music Hong Kong, home to Cantopop legends Jacky Cheung and Eason Chan, fires employees as part of global restructuring
- Post learns record label’s Hong Kong arm fired eight publicity department employees without prior warning
- Parent company Universal Music Group earlier shared it will generate US$270 million in annual cost savings from its restructuring plans
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Universal Music Hong Kong, home to Cantopop legends such as Jacky Cheung and Eason Chan, has laid off a handful of employees as part of a global restructuring by its US parent company, the Post has learned.
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A source confirmed on Wednesday that the record label’s Hong Kong arm fired eight workers from the publicity department without prior warning the previous day.
“The group had already announced in February its intention in the US to cut staff and the Hong Kong company postponed it further until after Lunar New Year,” the insider said.
Parent company Universal Music Group announced in February a “redesigning” of its organisational structure, which it said would generate US$270 million in annual cost savings via “a combination of headcount reduction and other operational efficiencies”.
The new plan would “achieve efficiencies in targeted cost areas” and strengthen its “capabilities to deepen artist and fan connections”, the group said.
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