Sony | Could Layoff 60 percent of EMI’s publishing staff

The European Commission is expected to issue a ruling on Thursday in one of the music industry’s biggest deals in the past decade: Sony’s proposed $2.2 billion takeover of EMI Music Publishing.

In public, Sony has said little about the deal, except to soothe fears that the combined company might dominate the lucrative publishing industry. But a confidential report prepared for investors this year and obtained by The New York Times says that the company will lay off about 60 percent of EMI’s publishing staff within two years, as part of $70 million in annual savings…

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Read More @ Sony Plans Major Layoffs of EMI Work Force – NYTimes.com.