EMI could save up to £200 million a year under proposals to be outlined today by Guy Hands, who runs Terra Firma, the private equity company. Mr Hands is expected to tell staff this morning that he will focus on A&R, centralise the group’s functions and cut at least 1,500 jobs. He plans to reduce expenses by merging the music labels that run individual sales and marketing units. Terra Firma is also understood to have secured about £250 million of extra equity from investors. (The Times)
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