Tuesday, May 13, 2008

Are there enough people left to fill EMI's latest job loss programme?

As Guy Hands continues to try and make sense of EMI's finances - a job we're sure he actually wanted this time last year - the Telegraph is reporting he's going to be cutting even more jobs than he originally planned to. Of the 4,500 staff he started with, he could be left with just 2,000:

People familiar with the situation said Mr Hands was looking to cut more jobs at the company because, even after the round of redundancies announced in January, the business will still have more employees generating less revenues than its competitors at Warner Music and Universal.

Of course, he could have tried to balance that out by raising revenue rather than reducing staff, but apparently sacking people is easier than making music people want to buy.