--Record company Universal Music Group is planning on cutting hundreds of jobs in the first quarter, Bloomberg reports, citing people with knowledge of the matter.

--Universal's recorded music division, its largest unit, will be hit the hardest, the people said.

--The company did not respond to a request for comment from Bloomberg.

Full article at https://www.bloomberg.com/news/articles/2024-01-12/universal-music-to-lay-off-hundreds-to-lower-costs-boost-profit?srnd=premium

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

January 12, 2024 11:18 ET (16:18 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.
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