Switzerland based company Utopia Music has confirmed that they will be significantly cutting the size of it’s global workforce with a number of layoffs, which have primarily come in Utopia’s central team.
This includes a number of high-level executives, as well as its tech-focused workforce.
“We’ve grown rapidly in two years, organically and through 15 acquisitions” Utopia Music spokesperson said, according to Music Business World. “Now, we’re realizing cost synergies across these acquisitions and focusing on sustainable growth. These changes enable us to better serve the Music Industry and deliver Fair Pay for Every Play.
“Unfortunately, that means saying goodbye to some of our colleagues as part of this process. This isn’t a decision that was taken lightly and we greatly value the contribution of all our employees to Utopia’s journey so far.”