Starting July 1, AEG is implementing significant employee cuts.
The company announced across-the-board salary reductions for employees in April and had avoided layoffs, but the shutdown of the concert industry and the inability to generate any revenue as its buildings sit idle and its festivals and global tours continued to be postponed and canceled has forced the company to make painful staff cuts.Jay Marciano
wrote in a follow up letter to staff."During the last few months we kept our company intact to ensure that those of you who would be the most affected would have the best safety net we could provide. While it's small solace, I see this as a testament to the culture that exists at AEG and the important role you have played in building this environment."
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