EMI Recorded Music Denmark has cut eight staff and will streamline its operations in a move to improve profitability.
EMI Recorded Music Denmark has cut eight staff and will streamline its operations in a move to improve profitability. Most of the employees let go were in administrative positions.
"We have adapted our strategic focus and our organization to the current and future market conditions," says managing director Lars Toft, who on March 1 succeeded Michael Ritto at the helm.
When Ritto and three other top executives announced in December they would leave the company to form other ventures, EMI Denmark counted about 50 staffers. The Copenhagen-based affiliate's staff head count has since scaled back to about 35.
EMI Denmark will also pare down local repertoire on the Medley and Virgin labels to around 10 releases per year, compared with 15 last year. The company has not yet announced which acts will remain on the roster.
"To achieve success we need to be able to act quickly and creatively, and we need to be prepared to run our business in a completely new mode. But this means, we must still be able to earn money," says Toft.