Ticketmaster has furloughed hundreds of employees across multiple offices in North America, marking the first major employment cuts at the Live Nation-owned concert company in the face of the COVID-19 crisis
"These are critical employees and we plan to bring everyone back," one company official said.
. More furloughs are likely at the company, Billboard has learned, catching some employees by surprise who said they were given assurances on multiple calls that the company would do everything it could to avoid cutting staff. But officials at Live Nation said the furloughs were only temporary and part of a series of cost-cutting measures announced in an April 13 filing with the SEC that outlined the company's plans to save $500 million in 2020 through "the reduction in the use of contractors, rent re-negotiations, furloughs, and reduction or elimination of other discretionary spending."
Company officials also tell Billboard that more employees could be furloughed and that affected employees will continue to be provided with health benefits. Most furloughed employees were paid one to three weeks of severance.This is a developing story and was originally published by
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