Layoffs Update News: Amid fears of a global recession, another company is going to lay off a large number of employees. The company will soon lay off 8 percent of its employees, which means that out of the total workforce, 8 percent of the employees will be reduced. The company is in the business of self-service ticketing, marketing and technology globally and has branches in 180 countries.
Eventbright Inc announced the layoffs on Tuesday. The company said the ticket service provider is looking to cut costs amid concerns of an economic slowdown. Eventbrite also informed that it is also planning to transfer 30 percent of its employees. Some employees can be transferred from Argentina and America to Spain and India.
The company registered a growth of 20 percent
The company’s business is doing well at the global level, which can be gauged from the fact that the company has registered a 20 percent increase in revenue during the fourth quarter. Along with this, the ticket payment capacity has also increased from earlier. The company projects $3.3 billion in ticket sales in 2022, according to data released Tuesday.
Company and profit expectations
Eventbright Inc. expects full-year 2023 revenue of $312 million and $330 million, compared to $260.9 million in 2022. As of December 31, Eventbrite had 881 full-time workers, 508 in the United States and the rest in other locations.
Tell that before this, big companies at the global level have retrenched employees. It has companies like Google’s parent company Alphabet, Meta, Twitter and Microsoft.
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