EMI looks set to announce up to 2,000 job losses

Music label EMI is widely expected to axe more than a third of its 5,500 workers tomorrow as its new owner battles against the credit crunch.

Private equity company Terra Firma bought EMI for £3.2bn just before the global credit squeeze began last year.

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The label, which houses 1,300 artists including Robbie Williams and The Chemical Brothers, is said to have 19 managers, marketing executives and lawyers for every talent scout.

Up to 2,000 of these support workers are expected to lose their jobs at meetings on Tuesday.