This measure is permitting the company to save $400 million dollars per year, and to make changes that Terra Firma, owners of EMI since 2007, would describe as the most innovative changes in the industry.
"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," said the company’s spokesperson Guy Hands in a statement.
This company distributes records for artists such as Coldplay, Kylie Minogue and Norah Jones. They stated that these changes could take up to six months to materialize.