Ticketmaster Furloughs Hundreds of Employees as Part of $500 Million Cost Reduction Plan
billboard.comTicketmaster has furloughed hundreds of employees across multiple offices in North America, marking the first major cuts at the Live Nation-owned concert company in the face of the COVID-19 crisis.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 that the furloughs were 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.
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