AEG has announced significant cutbacks.
A recent email directly from AEG CEO Dan Beckerman to staff addressed the coronavirus (COVID-19) outbreak and shutdown, and the impact of such on the renowned entertainment company.
According to Billboard, AEG made the difficult decision to move forward with a “mix of layoffs, furloughs and salary reductions” starting July 1st. This will surely affect those working AEG Presents and its signature events, Coachella, Firefly Music Festival and more.
AEG Presents chairman and chief executive Jay Marciano added in his own memo:
We did not come to today’s decisions lightly. During the last few months we kept our company intact to ensure that those of you who would be the most affected would have the best safety net we could provide. While it’s small solace, I see this as a testament to the culture that exists at AEG and the important role you have played in building this environment.
Read more here.
Sources: Billboard, LA Times | Photo via Coachella
