BRIEF-Warner Music Group Corp -Now Expects Plan To Generate Pre-Tax Cost Savings Of About $260 Million

Reuters05:46

Warner Music Group Corp :

* WARNER MUSIC GROUP CORP -NOW EXPECTS PLAN TO GENERATE PRE-TAX COST SAVINGS OF ABOUT $260 MILLION

* WARNER MUSIC GROUP CORP: TO INCUR TOTAL NON-RECURRING PRE-TAX CHARGES OF ABOUT $210 MILLION

* WARNER MUSIC GROUP CORP -NOW ANTICIPATES A REDUCTION IN HEADCOUNT OF APPROXIMATELY 750 OR 13%

* WARNER MUSIC GROUP: MAJORITY OF ABOUT $150 MILLION OF SEVERANCE PAYMENTS & OTHER TERMINATION COSTS NOW EXPECTED TO BE PAID BY END OF FY 2026

Source text for Eikon: Further company coverage:

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