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May 13, 2008

EMI to axe 1000 more jobs...

Telegraph | Read Full Story >

EMI‘S owner, Guy Hands, is planning to axe up to 1,000 more jobs at the music company.

Mr Hands, who runs buyout firm Terra Firma, told senior EMI directors last week that the company’s headcount at its recorded music division will need to be reduced to around 2,000 people from 4,500, according to sources.


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2 Comments

#1 RWMS says:

It's just a sign of the times... However, I don't see it as the end of many labels, but more or less an industry wide reset. It's been needed for quite a while. Still sucks to lose a job though...

-Ron Wiles

#2 thelink says:

yeah, i feel so sorry for all the label dudes who are going to lose their jobs. especially the married ones that cheat on their wives...

poor, poor them.


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