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EMI Bloodbath Coming


01/13/2008
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(Reuters) Music company EMI, home to Robbie Williams and Coldplay, will cut up to 2,000 jobs as part of a restructuring being planned by its private equity boss Guy Hands, Sunday newspapers reported.

Hands plans to cut the marketing budget to 12 percent of projected sales, from 20 percent, but raise spending on A&R (artist and repertoire), which looks for new talent, The Sunday Telegraph said.

The Sunday Times said EMI would also ditch thousands of artists when he announces his plans on Tuesday. - more on this story

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