EMI To Cut One-Third Of Workforce

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.”