The events industry has been among the biggest casualties of the coronavirus pandemic. Events of all sizes around the world have been cancelled or postponed as the world hits the pause button. Global ticketing and experience technology platform Eventbrite has announced an US100 million expense reduction plan as a result of the impact of COVID-19.
It will reduce its global workforce by 45 percent and implement other cost-savings measures, including cash compensation reductions for the Chief Executive Officer (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, Co-founder and CEO of Eventbrite.