Private equity vs music

There's a bit in today's Observer about plans by EMI's new private equity owner to cut back staff. This will be an interesting case to watch as it is a big name brand and the deal took place before the credit crunch hit home. So it is the sort of case that should tell us more about what private equity really does. Already Terra Tirma has had a fight with the EMI pension fund trustees, now it is planning to cull staff, and some of EMI's big name artists are unhappy.