Ticketmaster Is Furloughing Hundreds of Employees to Try to Reduce Costs
Ticketmaster and their parent company, Live Nation, are facing multiple lawsuits due to restructuring their refund policy. Now, it is being reported that Ticketmaster is furloughing hundreds of employees in a $500 million cost-cutting plan. This is the first major cut off employees from the company due to the coronavirus. Employees were surprised by the furloughs after being told they would all have their jobs.
Live Nation is calling the move, “temporary.” Employees will receive health benefits as well as a one to three-week payout. Live Nation is gearing up for a year ending with zero revenue.