More Layoffs for EMI
EMI is looking at another wave of layoffs in the near-to-immediate future, axing 1,000 jobs as it tries to bring its worldwide headcount down from 4,500 employees to 2,000. A source told the UK’s Telegraph that EMI owner/Terra Firma CEO Guy Hands is still looking to make cuts because the company has “more employees generating less revenues than its competitors at Warner Music and Universal.” Pretty sure this marks the first time that Warner Music Group has been shown in a relatively efficient light in many, many years. [Telegraph]
