Concert giant Live Nation is reportedly set to furlough 20% of staff.
The global live music shutdown is set to continue for the bulk of 2020, with most countries prohibiting large gatherings.
As a result, the summer calendar is looking decidedly bare, with News feeds dominated by cancellations and postponements.
Pitchfork reports that Live Nation are set to confirm 20% of their staff will be furloughed this month, around 2100 of their 10,500 employees.
The company had previously intimated that cost-cutting measures were required, while previous internal correspondence warned that live music would not return to full capacity until 2021.
In a statement last month Live Nation said:
"As part of these cost reduction efforts, the company will implement salary reductions, with salaries for senior executives reduced by up to 50%, and the company’s CEO voluntarily forgoing 100% of his salary for the duration of the salary reduction program. Additional cost reduction efforts include hiring freezes, reduction in the use of contractors, rent re-negotiations, furloughs, and reduction or elimination of other discretionary spending, including, among other things, travel and entertainment, repairs and maintenance, and marketing..."
Previously, Live Nation furloughed around a quarter of their Ticketmaster staff.
Join us on the ad-free creative social network Vero, as we get under the skin of global cultural happenings. Follow Clash Magazine as we skip merrily between clubs, concerts, interviews and photo shoots. Get backstage sneak peeks, exclusive content and access to Clash Live events and a true view into our world as the fun and games unfold.