Cvent, one of the largest event technology companies, is reportedly laying off some of its workforce.
Cvent began laying off an undetermined number of workers on Thursday, multiple sources told EventMB.
UPDATE: While initial reports on Twitter seemed to point at a substantial reduction, a total of 10% has been affected.
UPDATE: Official Company statement
Initial reports of layoffs talked about a drastic reduction:
My heart goes out to my friends at @Cvent, who are undergoing a massive layoff. Please stay safe, and let me know if there’s anything I can do to help.
— Mike. Just Mike. (@mike4humanity) May 21, 2020
The company did not immediately respond to EventMB for comment.
Cvent hasn’t announced any furloughs or layoffs since the Covid-19 crisis began to jeopardize most of the live event industry projections for the rest of 2020.
Recently CEO Reggie Aggarwal acknowledged the impact of Cvoid-19 on the industry:
Talking about how the company approached the crisis, he added:
Only one week ago, Aggarwal also announced that Cvent’s flagship event, Cvent CONNECT, was going to be fully virtual:
We reached out to Cvent for comment. This story is developing.