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Sony to cut 326 EMI jobs within 2 years

Sony Corp. plans to cut 326 jobs at EMI Publishing within two years after US and European regulators approve its USD2.2 billion acquisition of the UK music company.

Sony/ATV Music Publishing, jointly owned by Sony and the estate of Michael Jackson, may eliminate 152 positions in the first year, with the rest coming afterward, according to a document by UBS AG, an adviser to Sony. It lists USD39 million in severance costs.