LONDON: EMI Group Plc on Wednesday became the latest big music company to slash costs to cope with an ailing market, cutting 1,500 jobs or 20% of its workforce, trimming its roster of artistes by a fifth, and outsourcing CD and DVD manufacturing.
Britain-based EMI – the world’s third largest music company and home to the Rolling Stones, Coldplay and Norah Jones – forecast it would save at least £50mil a year from the restructuring.
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