This isn’t the news you like to hear. With the completion of Sony’s buyout, EMI is now taking an expected round of layoffs. According to Billboard, 7 top executives have already left the company and 30-40 employees will be cut this week. Sony/ATV has already taken over the administration of EMI. According to Sony/ATV chairman Martin Bandier, “At end of the day we are going to be one homogeneous company with one person – myself – running it.”