According to a document submitted by Warner Music on February 7th local time, Warner Music will lay off 600 employees, accounting for approximately 10% of its total workforce. Warner Music stated that layoffs are part of a broader restructuring plan aimed at saving costs, investing in more music, and "accelerating the company's development over the next decade.". Warner Music expects that this layoff will save the company approximately $200 million in costs, with most of the saved funds being used to increase investment in Warner Music's core music division and new technologies.