News »
Gigwise RSS Feeds Bookmark and Share

EMI To Cut One-Third Of Workforce

As part of shake-up...

  • by Jason Gregory
  • Monday, January 14, 2008
  • Photo by: WENN
  • filed in: Pop Indie
Share

Nearly 2,000 jobs at EMI Music are under threat as new owners Terra Firma attempt to bring the record labels costs under control.

The job cuts, which are equal to almost one-third of the company’s staff, will be announced in new plans for the company on Tuesday (January 15th), according to reports.

It’s understood that private equity firm Terra Firma, who brought EMI for £3.2 billion last year, plan to centralise many of the job positions in company’s recorded music division.

News of the job cuts, which surfaced in yesterday’s Sunday Telegraph, follow the departure of EMI’s UK Chief Tony Wadsworth, who left last week following 25 years at the record label.

Terra Firma’s controversial take-over last August has already caused many of EMI’s artists to consider their positions at the company.

Both Radiohead and Sir Paul McCartney left the label shortly after Terra Firma’s takeover, while Robbie Williams’ manager has said that Williams is holding back his new material because he has no idea “how EMI will market and promote the album.”

 characters left [+]  


Register now and have your comments approved automatically!

  • RT @Gigwise: Lady Gaga To Perform For The Queen In London: At the Royal Variety Performance... http://bit.ly/5gj2VO *can you imagine it?+
    mistadee on Sat Nov 21 21:07:21 via Tweetie
  • RT @Gigwise: Lady Gaga To Perform For The Queen In London: At this year's Royal Variety Performance... http://bit.ly/5gj2VO
    evatography on Sat Nov 21 17:02:38 via UberTwitter
  • MOTHERFUCKING YES!!! RT @Gigwise: Daft Punk 'To Play London and Manchester Shows In 2010': It's reported... http://bit.ly/CQsc8
    christog on Fri Nov 20 22:47:41 via TweetDeck
  • RT @Gigwise: Gibson Guitars Raided Over Alleged Use Of Rare Madagascan Timber: Their Tennessee HQ is stormed... http://tinyurl.com/y96zc2s
    SheyMcfez on Fri Nov 20 17:14:17 via Gravity
  • RT @Gigwise Gibson Guitars Raided Over Alleged Use Of Rare Madagascan Timber: Their TN HQ is stormed http://tinyurl.com/y96zc2s < Not good
    alternageekorg on Fri Nov 20 17:12:50 via web
Artist A-Z   # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z