UK - Terra Firma finds £200m extra for EMI and makes job cuts

Terra Firma has today told staff at portfolio company EMI its plans to revive the fraught music group. Terra Firma intends to cut costs by ТЃ200m and will make between 1,500 and 2,000 staff redundant. The group's marketing budget will be curtailed while spend on digital marketing will rise and acquistions are likely in the music publishing-side of the business.