Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture, Printing And Reproduction Of Recorded Media
Printing And Reproduction Of Recorded Media
18.2 - Reproduction of recorded media

1,800 jobs
Number of planned job losses
Job loss
Announcement Date
31 March 2004
Employment effect (start)
Foreseen end date

Description

UK music group EMI has said it plans to axe 1,800 jobs - about one fifth of its workforce - in an attempt to cut costs. EMI recorded music is to lay off a fifth of its workforce, reduce its artist roster by a fifth, and outsource all its UK and USA manufacture of CDs and DVDs. The moves are part of a bid by the company to save £50m a year.

The job cuts form part of a wider restructuring exercise aimed at shoring up the heavily-indebted company's battered finances.


Sources

  • 31 March 2004: BBC

Citation

Eurofound (2004), EMI, Internal restructuring in United Kingdom, factsheet number 59979, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59979.