In heartbreaking news, Insomniac, one of the world’s leading event companies and the organizers of EDC, Beyond Wonderland, and more, today announced that they have been forced to furlough 50% of the company’s workforce due to COVID-19 concerns.
As the stay-at-home ordinances continue to be prolonged, the live event and entertainment industry have been struck with a harsh new reality. According to The New York Times, economists surveyed by MarketWatch expect a report, which the Labor Department will release on Friday, to show that U.S. payrolls fell by 22 million jobs this last month.
Insomniac founder and CEO Pasquale Rotella told Billboard the decision did not come easy, but it became a necessary action to stay afloat during these troubling times. “Insomniac made the difficult but necessary decision to furlough certain employees while we are unable to produce our shows,” he said. “It is our full intention to bring those team members back on board once events are allowed to occur again.” Furloughed employees, however, will still be able to retain all their medical benefits.
For businesses across the world, the effects of the pandemic have been devastating, but they have been especially daunting for nightlife, an industry that revolves around social interaction. The future of the industry is still unknown, being that it was one of the first to be shut down and will most likely be among the last to reopen. However, companies like Insomniac have opted to postpone major festivals in lieu of announcing a full cancellation. EDC has been pushed back to October, and Rotella and his team are currently going through the painstaking process of dealing with refunds.
During times like these, it’s important to keep these employees, who have brought some of your favorite memories to fruition, in our hearts. Both financial and emotional support is imperative at the moment, and we urge you to donate to charitable foundations like MuisCares to help. While on quarantine, you can also tune into Insomniac’s digital festival coverage, including the EDC Las Vegas Virtual Rave-A-Thon, which will be hosted from May 15th to 17th.
FOLLOW INSOMNIAC:
Facebook: facebook.com/insomniacevents
Twitter: twitter.com/insomniacevents
Instagram: instagram.com/insomniacevents
H/T: Digital Music News
