LOS ANGELES (CelebrityAccess) — Billboard is reporting that Ticketmaster furloughed hundreds of employees in North America as the company grapples with the financial fallout of the COVID-19 pandemic.
The furloughs impacted multiple offices in North America, Billboard reported.
Live Nation characterized the furloughs as temporary, and part of the $500 million in cost-savings measures the company outlined in a press statement on April 15th.
The April 15th statement said the cost-saving measures included a “reduction in the use of contractors, rent re-negotiations, furloughs, and reduction or elimination of other discretionary spending.”
A source told Billboard’s Dave Brooks that the employees will have their health benefits and receive a 1-3 weeks of severance pay.
“These are critical employees and we plan to bring everyone back,” the source said, according to Brooks.