Ticketmaster North America has furloughed a quarter of its workforce, sources confirm to Variety, in one of the most tangible signs yet of the severity of the coronavirus pandemic’s effect on…
in one of the most tangible signs yet of the severity of the coronavirus pandemic’s effect on the concert industry.
Smith praised the staff for its crisis response in the midst of revenue grinding to a halt and said that “this team spirit and camaraderie made the decision to furlough a portion of our workforce all the more difficult. I assure you, however, that this decision was arrived at with great consideration and care. Without a doubt, this is the hardest decision I have faced in my tenure leading this great organization but it is one I feel is necessary to protect the future of our company.
’s April 13 filing with the SEC, which said the company was looking to cut $500 million in costs this year through measures that would also include reducing contractors, renegotiating rent, and paring back other discretionary spending. The move came on the heels of a letter sent to staff of the parent company Live nation on Monday by chairman/CEO Michael Rapino, detailing ticket refund policies, a perpetual source of fan controversy since the pandemic began. In that memo, Rapino gave specific figures for the amount of cancellations that have rocked Ticketmaster .
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