TicketSwap lets go nearly a third of staff

TicketSwap, the Amsterdam-based fan-to-fan ticket marketplace, is letting 30% of its staff go, becoming the latest live music company to make cutbacks due to the impact of the coronavirus.

TicketSwap ended 2019 in a strong financial position, says the company, “with a sizeable financial buffer in place and a clear growth strategy”, and the start of 2020 saw it bolster its workforce in anticipation of a strong summer festival season. But with the summer calendar in the Netherlands and elsewhere now empty, the firm was forced to implement cost-saving measures, including pausing remuneration for execs and reducing budgets across all departments.

“As the full extent of the coronavirus impact became clear, and with the EU suggesting that large-scale events would be the last thing to return to normal, further action was necessary and staff cuts were inevitable,” reads a statement from TicketSwap. “While the NOW support from the Dutch government certainly helped the company, it was not sufficient […] and did not allow the business to keep going at its current state.”

TicketSwap, which has users in 22 countries, says the lay-offs fall most heavily on the marketing and customer support departments, “since these teams handle day-to-day activity, which has stopped almost entirely”.

“It is a very sad day for TicketSwap, but we know we are not the only ones hurting”

The staffing reduction, which takes TicketSwap’s workforce back to early 2019 levels, comes as the company seeks loans and other funding and investment opportunities to help it weather the pandemic. The company remains fully owned by its founders.

TicketSwap CEO Hans Ober (pictured) says: “It is a very sad day for TicketSwap, but we know we are not the only ones hurting. Festivals, venues, event organisers, artists and everyone behind the scenes is hurting badly.

“The fans are hurting, too, and it’s imperative that the government does all it can to support the creative sector through this remarkably difficult time.”

Other companies known to have made redundancies during the Covid-19 outbreak include Cirque du Soleil, Paradigm Talent Agency, Eventbrite, StubHub and Endeavor/WME, while many more industry professionals are temporarily furloughed.

 

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