1,000 more jobs to be cut at EMI

[Mumbo Sauce]

EMI'S owner, Guy Hands, is planning to axe up to 1,000 more jobs at the music company.
Mr Hands, who runs buyout firm Terra Firma, told senior EMI directors last week that the company's headcount at its recorded music division will need to be reduced to around 2,000 people from 4,500, according to sources.

In January, EMI announced that it was planning to axe between 1,500 and 2,000 jobs at its recorded music division EMI Music. Several senior, highly paid executives in Britain have recently been made redundant.

Moreon media
They include Mike McMahon, senior vice-president of commercial and digital media. He will be replaced by Matthew Crosswaite, who was a vice-president in EMI's digital division. Mr Crosswaite was yesterday formally appointed senior vice-president of sales, sources said.

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By Ben Harrington