Eventbrite cuts staff by 45% in $100m cost-saving plan
US-based event and ticketing platform Eventbrite has reduced its workforce almost by half in a bid to cut costs during the Covid-19 pandemic
News By IQ | 9 April 2020
Event management and ticketing company Eventbrite is laying of 45% of its staff – reportedly between 450 and 500 people – as it implements widespread cost-saving measures.
The workforce reduction was announced as part of a cost-cutting plan, with the company looking to reduce annual expenses by at least $100 million.
The move follows layoffs at other companies in the entertainment industry, including Paradigm and WME parent company Endeavor.
Eventbrite expects to spend between $7m and $10m in severance payments, with an additional $3 to $4m…
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