Update | Sony | Cuts 326 EMI’s publishing staff

Sony to Cut 326 EMI Publishing Jobs After Purchase Closes – Bloomberg

Sony Corp. (6758) plans to cut 326 jobs at EMI Publishing within two years after U.S. and European regulators approve its $2.2 billion acquisition of the U.K. music company…

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via Sony to Cut 326 EMI Publishing Jobs After Purchase Closes – Bloomberg.

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.