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SXSW Lays Off A Third Of Staff Following Festival’s Cancelation Over Coronavirus Concern

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South by Southwest has laid off a reported 50 staff – practically one-third of its workers – within the wake of the pageant’s cancelation by the Metropolis of Austin over coronavirus issues.

The layoffs had been first reported final evening by the Austin American-Statesman. SXSW’s guardian firm SXSW LLC informed the newspaper that it “has been rigorously reviewing our operations, and we’re within the unimaginable place of lowering our workforce,” including, “We’re planning for the long run and this was a needed, however heartbreaking, step.”

On March 6, SXSW introduced the choice to cancel its 2020 version that was to start this month. The transfer got here after firms started opting out of attending the annual pageant over issues concerning the worldwide coronavirus epidemic. Austin’s mayor declared a neighborhood catastrophe as town faces a serious financial battering.

COPYRIGHT_BP: Published on https://bingepost.com/sxsw-lays-off-a-third-of-staff-following-festivals-cancelation-over-coronavirus-concern/56851/ by Hilda Workman on 2020-03-10T14:40:38.000Z

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About The Authors

Hilda Workman

Hilda Workman - Hilda Workman is a licensed financial advisor with years of expertise in the industry. She has assisted a range of clients, from sole proprietors to large corporations, in reaching their financial objectives. She is informed about many different financial subjects, including tax preparation, investment planning and also in fashion. She believes that the best things are those that are imperfect.

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