Restructuring of the Warner Music Group begins

If you haven't seen the news today on the restructuring of the Warner Music Group then here's a recap. Edgar Bronfman Jr.'s deal to purchase the WMG from Time Warner has gone through and the changes have begun. The label has announced a round of layoffs which includes 1,000 jobs and several top executives, representing 20 % of the label's global workforce. The long speculated merger of the Elektra Entertainment Group and the Atlantic Group has begun with the consolidation of their backoffice functions. More changes are expected to be announced soon. The WMG is home to bands like Green Day, The Distillers, Hot Hot Heat, Less Than Jake, Glassjaw, The Living End, Avenged Sevenfold, Vaux, The Kinison, My Chemical Romance and many others along with a back-catalogue that includes the Talking Heads and The Ramones.