Job cuts predicted at EMI


Job cuts predicted at EMI
EMI, one of Britain's most well-known music labels, could be set to cut thousands of jobs in an effort to revive the struggling firm

According to a report in the Wall Street Journal, which followed similar suggestions in the British media over the weekend, EMI could be set to axe 2,000 members of staff.

The company currently employs about 6,000 people but a third of those – said to be within the recorded-music part of the business – could find out they are to go later this week.

It is understood EMI will announce the staffing shake-up tomorrow, when it reports to the stock exchange.

Private equity firm Terra Firma bought the company last year and has been moving quickly to make it profitable after some difficult years.

But the methods used have not gone down well with some of the label's biggest stars, with British acts Radiohead and Sir Paul McCartney ending their relationship with EMI.

And another of the label's biggest-selling artists, Robbie Williams, is reportedly ready to go on strike because of the changes at the company.

No-one at EMI was immediately available to comment on the reports.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
HR / Recruitment
Health / Beauty
Hotel / Catering / Restaurants
IT / Internet
Insurance / Pensions
International / Overseas
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Transport / Logistics
Travel / Tourism / Leisure