Yep, Layoffs Coming To Universal Music

Vivendi Universal CFO Philippe Capron confirmed yesterday that he’s working on a cost-cutting plan for Universal Music Group.

“A lot of fat can be taken out without hurting muscle and bones,” he said. There is what he described as “very, very significant potential” for cost savings.

Universal Music Group employs 7,100 people worldwide.

(h/t Peter Kafka)