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AEG Layoffs Hit as Company Prepares for Limited-Capacity Coachella, Global Tours Next Year
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billboard.com"When we are able to reopen, it will take time until we see our fans, partners and sponsors fully return," AEG CEO Dan Beckerman said in a staff memo.
AEG, the global concert promoter and entertainment facility manager, instituted its deepest staff cuts in the company’s history Monday, laying off 15% of its workforce, furloughing more than 100 employees across multiple divisions at the company and instituting 20–50% pay cuts. “Every employee worldwide will be impacted in one form or another,” AEG chief executive Dan Beckerman wrote in a somber note to employees in advance of Monday’s layoffs. “It is an agonizing decision, but sadly, a necessary one." The cuts are emblematic of the human toll that the coronavirus pandemic and statewide
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