EMI slashes 1,500 jobs as cuts artists, outsources disc production.

(From Agence France Presse)

British music group EMI has announced plans to outsource manufacturing of music and movie discs in Europe and the United States and remove artists from its global roster, resulting in the loss of 1,500 jobs.

"As a result of these changes, EMI's headcount in its recorded music division will be reduced by approximately 20 percent (1,500), of which approximately 900 are related to the outsourcing of manufacturing," it said in a statement to the London Stock Exchange on Wednesday.

The move would save the firm 50 million pounds (75 million euros, 92 million dollars) per year although there would be a one-off cash charge of 75 …