EMI Group Plc, the music company bought last year by private equity financier Guy Hands, will cut as many as 2,000 jobs after a slump in music sales led to a record loss. The revamp will help to cut costs by as much as 200 million pounds (US$392 million) a year, EMI said, Bloomberg News reported. <LINK>

No doubt this will be blamed on IP infringement in China . . .