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NEW YORK — BMG Entertainment, under intense pressure from parent Bertelsmann AG to improve profitability, is preparing to lay off hundreds of employees as part of a big cost-cutting program, insiders told The Wall Street Journal.
Senior executives are scheduled to meet in Madrid late next week, and cost-cutting plans are expected to be on the agenda. A spokesman for BMG said the company’s executive committee will focus on “repertoire development, efficiency and stepping up our investment in music.”
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