Warner Music Group will reduce its headcount by $170 million as a part of a larger plan to restructure and reduce costs. It's unclear how many employees will be impacted by the layoffs.

WMG will reduce headcount by $170 million, CEO Robert Kyncl wrote in a memo to WMG staff on Tuesday, as part of an effort to "future-proof" the company and "reinvest in the business."

The entertainment and record-label conglomerate’s restructuring plan aims to lower costs by $300 million a year.