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AEG announces layoffs, furloughs

Live entertainment powerhouse AEG is implementing staff layoffs, furloughs and salary reductions as part of a Covid-19 cost-cutting plan.

The company, whose CEO Dan Beckerman notified employees of the measures on Monday (8 June), is enacting the measures across all parts of the business from 1 July, including concert and festival promoter AEG Presents.

In a separate message, AEG Presents chairman and CEO Jay Marciano stated that those affected would be provided with “the best safety net” possible.



“I don’t think it’s an overstatement to say that, just a few short months ago, nobody in our business – or any business – could have predicted where we would be today. The world has changed with an impact and scope that’s impossible to fathom,” wrote Marciano in a memo obtained by Variety.

“Simply put, we will reopen when we are confident that it is safe to do so”

“I wish I could tell you when it will be safe to reopen. At present, it appears large-scale events – the core of our business – will be the last to reopen. We will continue to monitor this daily, but the health and safety of our employees, artists and fans remains our highest priority.

“Simply put, we will reopen when we are confident that it is safe to do so.”

AEG joins live companies including Paradigm Talent Agency, WME, Eventbrite, Cirque du Soleil and TicketSwap to lay off staff due to the coronavirus shutdown, while many more industry professionals are temporarily furloughed.

 


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AEG, ASM Global partner with Cirque du Soleil

Live entertainment powerhouse AEG and venue operator ASM Global have formed a multi-year partnership with Cirque du Soleil Entertainment Group.

The deal brings Cirque du Soleil’s touring shows to AEG and ASM Global venues, which include the 20,000-capacity O2 Arena in London and 4,350-capacity Mercedes Platz in Berlin (AEG), and ASM’s Coca-Cola Arena in Dubai (17,000-cap.), P&J Live in Aberdeen, Scotland (15,000-cap.), Sydney’s ANZ Stadium (83,500-cap.), the SSE Arena, Wembley in London (12,500-cap.) and the in-the-works Gateshead Quays in Newcastle, UK (12,500-cap.).

“Cirque du Soleil Entertainment Group is truly pleased to announce this partnership that promises extensive touring possibilities across the world and more opportunities for current and future fans alike to experience Cirque du Soleil’s one-of-a-kind productions,” says Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group.

“We are excited to partner with Cirque du Soleil to bring the very best in live family entertainment to consumers around the world”

“AEG and ASM Global have built a strong portfolio of advanced venues that allow us to push further our artistic creativity and innovative vision to present state-of-the-art creations that have never been seen before. This partnership is part of our greater live entertainment offering.”

AEG president and CEO Dan Beckerman adds: “We are excited to partner with Cirque du Soleil to bring the very best in live family entertainment to consumers around the world. Cirque du Soleil’s iconic shows continue to be in strong demand across the globe and this partnership will bring new immersive entertainment to passionate fans of all generations.”

The result of a mega-merger between AEG’s venue management arm AEG Facilities and Onex-owned SMG, ASM Global operates over 300 facilities worldwide.

 


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