It would be fair to say that the last couple of years have been rough for EMI. Between losing domestic market share, being forced to cut thousands of jobs, and having both legal and philosophical disputes with some of their premier artists, one might think it’s a good time for some adjustments. The top brass at EMI seem to think so too, and have laid down new plans they hope will bring the company back to its former glory.
So what will this new approach look like? Will it involve innovative marketing techniques and a forward-thinking approach to new media platforms? Perhaps a renewed focus on artist and customer relations to revitalize a brand Paul McCartney once called, in an interview with the British newspaper The Times, “really very boring”?
No, EMI’s answer to the challenge at hand is… more job cuts. But EMI isn’t just getting rid of employees; the UK’s Telegraph reports that the company is also seeking to reduce “investment in new systems” and eliminate any “duplication.”
While paring down might be critical to returning EMI to profit, we can only hope there’s some room for growth in their long-term strategy. We’ll be sure to keep you up to date on any new developments.