Eventbrite announces 8% cuts to global workforce

Fearing recessionary pressures and a looming economic downturn, global event management and ticketing service Eventbrite has announced that it is to cut about 8% of its workforce.

With 881 fulltime employees, of which 508 are in the USA and the rest in other locations, Eventbrite is now planning to relocate almost a third (30%) of the remaining roles to countries including Spain and India, with nearly all of the customer support and operations roles moving to locations outside the USA.

The company expects the whole process to be completed by the end of the year.

The announcement came as the company reported a 20% rise in revenue in the last quarter of 2022, posting a net income of US$4 million, compared to a loss of US$16.8 million for the same period in 2021.

Commenting on the company’s performance, Eventbrite Chief Executive, Julia Hartz stated “our strong fourth quarter and full year financial results reflect great execution in enabling creator success and growth.

“As industry leaders, we will continue to innovate on marketing and demand generation capabilities that help creators share their unique content with a bigger audience of consumers.

“We’ve taken the difficult and important steps to restructure our business to accelerate toward a two-sided marketplace and our long-term financial targets.”

Image credit: Eventbrite.