StubHub Reportedly Closing Several Offices Worldwide
StubHub is closing or shrinking a number of its offices across the globe, as part of its continuing efforts to weather the COVID-19 pandemic, according to reporting by The Guardian. An email to staff said the company, which has already laid off a substantial sector of its staff and lost its CEO amid the pandemic, would be shuttering offices in Asia and Latin America, with further cuts to staff in its Spain offices.
“This decision has not been made lightly, nor easily, and unfortunately it means that we have to bid farewell to our colleagues in Mexico, Brazil, Japan, Hong Kong, Taiwan and Korea,” the email regarding the office closure reads.
International operations will be managed from Europe, with StubHub’s headquarters remaining in California.
“While events will be among the last to return to normal following this pandemic, we’re confident in the industry’s ability to rebound,” a spokesperson told The Guardian. “For now, we continue to support our customers and partners and look forward to a time when we are able to return to the joy of live events and the special connections that come with them.”
It has been a rough 2020 for the secondary ticketing leader. Its sale by former parent company eBay to Viagogo for $4 billion was completed just as the coronavirus pandemic was ramping up, soon to grind live events to a halt. Authorities in the UK have held up the merger due to concerns over competition in the secondary market, but recently revealed they did not allow the company to spin off its properties in Europe to alleviate those concerns. Layoffs have decimated staff, and Sukhinder Singh Cassidy departed as CEO. The company has also faced lawsuits from former affiliate partners as well as consumers, particularly related to its decision to only offer refunds for cancelled events in states or countries where it is required by law.
Some have predicted the company will not weather the storm without bankruptcy, but for the time being, it has staved off such drastic action. Interim CEO Jill Krimmell recently expressed optimism over the future of the company and live events ecosystem as a whole in an interview with Quartz.
Fewer than 100 of the total employee count of over 600 are expected to be impacted by the closures and reductions reported.