EMI have announced that they are to cut somewhere between 1500 and 2000 jobs across their entire business. It was just one of the actions announced by Guy Hands, chairman of the Terra Firma, the private equity firm that bought the label last year. This follows just days after the departure of CEO and Chairman, Tony Wadsworth, who had been at the label for over 25 years.

The annoucement has unsettled plenty of people, artists and employees alike, as they are part of a wider reconstruction of the entire Recorded Music division. Guy Hands had this to say:

"We have spent a long time looking intensely at EMI and the problems faced by its Recorded Music division which, like the rest of the music industry, has been struggling to respond to the challenges posed by a digital environment.

"We believe we have devised a new revolutionary structure for the group that will improve every area of the business. In short it will make EMI's music more valuable for the company and its artists alike. The changes we are announcing today will ensure that this iconic company will be creating wonderful music in a way that is profitable and sustainable."