2,100 employees forced into involuntary leave Live Nation has reportedly furloughed 20 per cent of its workforce as part of a $600M cost-cutting package.
Per Billboard, 2,100 of the company’s 10,500 employees are affected by the decision, which comes as the live entertainment sector worldwide experiences unprecedented financial difficulty during the coronavirus pandemic.
The new furloughs are part of a concerted effort by the concert promoter behemoth to reduce costs, which began in April. A statement from April 13 hinted at the furloughs which are now being implemented. “Given the uncertainty associated with the duration of current conditions globally, the company has launched a number of initiatives to reduce fixed costs and conserve