eventbrite to cut 8% of its workforce and move some roles to india
A cross-cutting measure will result in the company cutting eight percent of its workforce in 2023, according to Eventbrite, a global self-service ticketing, marketing, and experience technology platform. From the United States and Argentina, Eventbrite plans to shift 30% of its workforce to Spain and India.
Our strong fourth quarter and full year financial results reflect great execution in enabling creator success and growth. We powered the experience economy with $3.3 billion of ticket sales in 2022 as consumers attended 5 million events offered by our creators. In her view, new tools, such as Ads, are helping creators build their audiences using Eventbrite’s scale and marketplace,” Julia Hartz, co-founder and CEO, said.
Our goal as industry leaders is to continue to innovate on marketing and demand generation capabilities that enable creators to reach a wider audience with their unique content. Our long-term financial objectives and a two-sided marketplace have driven us to restructure our business. Our goal is to help our customers grow faster while improving profitability, generating sustainable growth, and creating shareholder value.
According to a report by Business Insider, Eventbrite is planning to cut 8% of its workforce and move some roles to India. The layoff is expected to happen in the next few months and will affect around 200 employees.
The company has been struggling financially since going public in 2018, and this latest move is seen as a way to cut costs. Eventbrite has been hit hard by the pandemic, as events around the world have been cancelled or postponed. The company has laid off several hundred employees since the start of the crisis. It remains to be seen how these latest cuts will impact Eventbrite’s ability to serve its customers and rebound from the pandemic.
Eventbrite has not commented on the reports, but it is understood that the decision was made at a board meeting earlier this month.