The British-based EMI label has announced that it will lay off 1500 workers in Europe and the US, consolidate several of its record labels, and begin outsourcing much of its CD production to other companies, in a move which the company hopes will save it $91 million per year. EMI has had a somewhat troubled history in recent years, as it attempted to buy or merge with multiple other global music companies such as Bertelsmann and Warner Music, mergers which ultimately failed. The cost-cutting moves will actually cost EMI money in the short term, but may stabilize some long-term operations.