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EMI to Slash 1/3 of it's Staff in Restructuring Plan: EMI To Slash One-Third Of Its Staff In Restructuring Plan
Published: Monday - January 14, 2008
Words by Allen Starbury
Record label, EMI, is expected to announce Monday (January 14) that it will cut its staff as the music industry continues to struggle with declining sales.
EMI — which was bought by private equity firm Terra Firma in 2007 — will be restructuring, laying off a third of its 6,000 employee staff, slashing its marketing costs and dropping some of their artists reports the Wall Street Journal.
The label will cut back on its recorded music operation — which doesn’t incl...