EMI To Cut 1000 More Jobs

Yes, that’s on top of the 2000 or so already scheduled. This would reduce the total number of employees to about 2000 from a recent total of 4500 according to the UK’s Telegraph.

"…(Guy) 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."

NO WAY FORWARD

Sadly these cuts may be needed or even justified.  But what’s missing from Hand’s strategy is a new way forward.  Where is the investment in A&R or new business models? If CD’s are selling fewer per release; why not chase the long tale and release more of them? 

EMI’s clock is ticking and thus far the Hands are on zero.