The move would bring the firm's total payroll down by 8.5 percent, The Wall Street Journal reported.
The company broke the news in its fourth-quarter corporate report in which it said it had taken a $400 million charge for the restructuring.
The company also said it earned a profit of 56 cents per share or $637 million in the fourth quarter. Profits would have reached $1.09 per share or $1.2 billion if not for the restructuring charge and other one-time expenses, the Journal said.
2014: The Year in Music [PHOTOS]