EMI to cut 1500 jobs
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Mar 2004 10:32
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British music group EMI has announced a restructuring of its manufacturing operations, involving the loss of 1500 jobs worldwide.
The company said that staff numbers would be reduced by about 900 in The Netherlands and the US, under plans to contract out the manufacture of compact discs and DVDs. The restructuring is expected to save around £50 million a year, although the job cuts would involve a one-off cash cost of around £75 million.
According to a group spokesman, a ‘small fraction’ of the job cuts would be from sites in the UK, but no further details were disclosed.
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