Eventbrite Cuts Staff By 45%
Global ticketer Eventbrite is laying off 45% of its workforce as part of a $100 million annual expense reduction in response to the massive disruption in the live event industry during COVID-19 crisis.
The ticketer’s staff reductions are being characterized as cuts rather than as layoffs or furloughs. Eventbrite had 1075 employees as of September 2019.
StubHub furloughed two-thirds of is staff earlier this month and other ticketing companies are under similar pressures.
The expense measures include cash compensation reductions for the CEO and executive staff.
“The COVID-19 pandemic has caused massive disruption to the live entertainment and experiences economy and we are taking significant action to navigate this unprecedented time,” said Julia Hartz, Eventbrite’s co-founder and Chief Executive Officer. “We are saddened to see many members of our team depart the company and we are supporting them in every way we possibly can during this tumultuous time. I want to personally thank our talented and dedicated teammates for contributing towards building the leading platform for independent creators.”
The company will provide additional detail when it posts results for the first quarter and full year of 2020 on March 16, 2020.