And they can't blame file sharing for this one

Major label EMI cuts 1500 jobs, some of which are in America. It's not that they're fighting to keep their heads above water, though.

EMI, home to the Rolling Stones, Coldplay and Radiohead, also said recorded music sales in the year to end-March 2004 held close to the previous year's levels, despite rampant piracy and competition from other entertainment.

Though, in interest of fairness (EMI has their reasons for the cuts, "retooling their business model, etc.), I'll also print this article since in the previous post I bitched about major labls releasing shitty music.

"We believe that by concentrating our efforts on a tightened roster of artists we will increase our revenue-generating potential while reducing our costs." Niche and under-performing artists would go, EMI said, without giving names.