Thousands of staff at troubled music group EMI will lose their jobs in a wide-ranging cull by the troubled company's new private equity owners. EMI, bought by Guy Hands' Terra Firma group last year, confirmed today that worldwide headcount will be cut by between 1,500 and 2,000 as it slashes costs. Confirming EMI insiders' fears, the company said ahead of staff briefings that is was launching "a series of wide-ranging initiatives within its recorded music division to enable the group to become the world's most innovative, artist friendly and consumer-focused music company". (The Guardian)
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