WMG revises restructuring plan: cost savings now $260M, charges $210M, headcount cut 750

Warner Music Group Corp.

Pre-tax cost savings target raised to ~$260M, majority by end of FY2025, from prior $200M.
Total non-recurring pre-tax charges now ~$210M (was ~$140M), including $150M severance and $55M impairment.
Headcount reduction increased to ~750 (13%) from ~600 (10%), mostly in O&O Media, Corporate and support.
Majority of charges (~$180M) still expected by end of FY2024; severance payments extended to FY2026.
Ongoing implementation could result in additional charges above revised estimates.

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