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Job cuts predicted at EMI

14/01/2008

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.