Tuesday, January 15, 2008
EMI Sheds 2,000
With staggering sales and increased internet piracy, it looks like UK big label, EMI, will be cutting 2,000 jobs as part of its restructuring plan, according to NME.com. What used to represent The Beatles, Frank Sinatra and R.E.M. is now slowly losing its clients with Radiohead's exodus last year and Paul McCartney's exit. Recently reunited The Verve, known for their '97 hit Bittersweet Symphony, has threatened to withhold their new album until EMI can actually financially support the band's distribution and marketing of the new CD.