After a series of profit warnings Sanctuary is to cut a quarter of its staff.

The company expects a trading loss for the year to the end of September.

Sanctuary cuts a quarter of staff - BBC News

UK music management business and record label Sanctuary is to cut its workforce by a quarter after a series of profit warnings following weak trading.

The firm, which has offices in London, Houston, Los Angeles, New York and Berlin, is to cut 175 jobs but has not yet said where the axe will fall.

Sanctuary's stable of artists include Sir Elton John, the Manic Street Preachers, Morrissey and Iron Maiden.

The firm said it hoped the move would soon return to profitability.

Source BBC Teletext.