Guy Hands, the financier whose Terra Firma group purchased EMI last year, is expected to announce a restructure of the label tomorrow. After disappointing sales in 2007, Hands hopes to refocus energy and resources into the company’s extensive catalogue, which includes the likes of The Beatles and Norah Jones. He’ll most likely cut 1,500 to 2,000 jobs in the process.
Guy Hands, the financier whose Terra Firma group purchased EMI last year, is expected to announce a restructure of the label tomorrow. After disappointing sales in 2007, Hands hopes to refocus energy and resources into the company’s extensive catalogue, which includes the likes of The Beatles and Norah Jones. He’ll most likely cut 1,500 to 2,000 jobs in the process.
Artists such as Robbie Williams, Paul McCartney and Coldplay have all vocalized their dislike of Hands’ leadership.
EMI is the fourth largest music group in the world. It is home to labels Astralwerks, Mute, Capitol, Blue Note, and Virgin, to name a handful.