AEG Worldwide, the holding company of the second largest concert promoter in America, will significantly cut staff because of the economic impact of the COVID-19 pandemic.
In a company-wide memo sent to employees Monday and obtained by The Times, Chief Executive Dan Beckerman wrote, “This global pandemic has disrupted everyone’s lives, and shelter orders, while being critical to leveling curves, have dealt with devastating blows for our business. It is clear now that live events with fans will not continue for months and possibly not until around 2021, so we are faced with no easy choice.
The cut, according to the memo, will include a combination of layoffs, leave and salary reduction that will take place July 1.
“We have taken extreme steps to cut costs and keep jobs. We instituted a 20% reduction in overall salaries, we drastically cut costs and we eliminated all unnecessary projects, investments and capital expenditures, “Beckerman said. “But we have never experienced a time like this, where our operations stopped completely because the power was out of our control.
“Our business was the first to be closed,” he continued, referring to the postponement of state-mandated meetings, including tours for Justin Bieber and Billie Eilish, “and unfortunately will be the last to reopen, despite the drastic actions we took to avoid staff reductions. , unfortunately it’s clear that this step cannot be avoided. “
Sources in AEG Presents who are aware of the plan say that the exact amount and scope of deductions are still being finalized and that they cannot provide exact figures.
The LA-based company, founded by Denver billionaire Philip Anschutz (with an estimated value of close to $ 12 billion), has nearly 30,000 full-time and part-time employees and has a number of well-known places, including the Staples Center in downtown LA and the Dignity Health Sports Park in Carson. The company also has L.A. Kings and one third of L.A. Lakers.
Until COVID-19, the concert business was running fast, according to industry analysts at Pollstar, who had projected direct income of $ 12.2 billion this year. While AEG Presents has not yet made an official announcement about the fate of the Coachella Valley Music & Arts Festival, which is rescheduled for October, some industry experts hope to proceed as planned this year.
“Until all this shakes, you never know where it will land,” said one source within the company, because the person was not authorized to discuss the plan. “We don’t have revenue dollars in 3 1/2 months, and we do everything we can to keep the company intact. [Other firms] all did this two months ago, and we last as long as possible. The unfortunate part is that no one knows when we will return. “
The source stressed that laid off workers would receive a competitive severance package and that workers who were still on leave would continue to receive health insurance.
The cuts will affect all AEG Worldwide divisions, not just the AEG Presents specifically the concert, which is the holding company of promoter Coachella Goldenvoice. Representatives for AEG Worldwide, which include sports, facilities and real estate divisions, confirmed plans for staff cuts throughout the company but would not specify exact figures.
Specifically regarding his concert business, Jay Marciano, chief executive of AEG Presents, said in his own company’s memo Monday, “Today’s e-mail is the most difficult I have ever written.”
“I think it is no exaggeration to say that, just a few months ago, no one in our business or any business can predict where we will be today,” he added. “The world has changed with an impact and scope that is impossible to understand. I wish I could tell you when it will be safe to reopen. At present, it seems that large-scale events – the core of our business – will be the last to reopen. ”
Live Nation, the country’s biggest promoter and main rival to AEG Presents, announced in April that it had lost 20% of its staff, along with a 50% salary cut for executives. Chief Executive Michael Rapino turned down salaries for the remainder of the leave period. Talented agents such as WME and Paradigm announced deep cuts to staff this spring due to the impact of COVID-19.
While the reopening policy varies from state to state, the return of large gatherings such as concerts will be in the final stages of Gavin Newsom’s four-step reopening plan for California.
“I want to go home one thing: no one feels responsible, that they can do something different, or that they can be better prepared,” Marciano wrote in his memoir. “I know this might sound obvious, but in the coming days and weeks please remember, this is not your fault.”
Absence of Ronaldo, favorite song and game with Morocco. Gonzalo Ramos sums up a (beautiful) night he never dreamed of
Goncalo Ramos’ debut as a starter at the World Cup saw him score three goals and have a great night. Although there was talk before the game about the absence of CR7 in the starting lineup, the Benfica player said that it was different in the dressing room: “Honestly, in our dressing room, no one talked about it. Cristiano as our captain did what he does in every game. He helped us, motivated us and gave me a word of encouragement both for himself and for everyone else.”
After explaining at a press conference that he only had time to call his parents and best friends, Gonçalo Ramos turned to the next game, in which Portugal would “come out with everything”. “The game against Morocco will start 0-0. Today’s score doesn’t matter anymore.”
When asked about today’s performance, the Benfica player said that even in his wildest dreams he never thought of making his debut in the starting lineup in the World Cup playoffs with a hat-trick. “In relation to exemplary players, Ronaldo is an idol for many. I also like Lewandowski and Ibrahimovic.”
In a more relaxed moment, journalists asked Ramos what his favorite song is and what song he would like to hear when he scores goals. “This song contains profanity. Maybe it’s better not to mention it. Another? The music when we score is good. This can continue.”
After the press conference, Gonzalo Ramos went to receive the Man of the Match trophy. Upon receiving the award, he was asked which of his teammates he would give it to if he could choose: “I would give it to the whole team, because without the whole team it’s impossible to win games.”
BUT Tourism in Central Portugal organizes on December 19 and 20 two conferences on the importance of Caminhos de Santiago tourism product in Central Portugal.
The colloquium will take place in melkhada you Covilhã and offer a reflection on Structuring, Knowing, Experience and Dynamizing different layouts portuguese way santiago, with a focus on the importance of this tourism product for the local economy.
The first action, on the 19th, will take place at the Cineeatro Messias, in Mealhada, a municipality that is on the Caminho Português Central route. The next day, the stage will be the Hall of the Municipal Assembly of Covilhã, the city where the Caminho Português Nascente takes place.
Work will take place in the morning, from 10:00 to 13:00. In the afternoon (15:00 – 16:30) there will be a practical part with a short walk along the section of the Portuguese route to Santiago, so it is advisable that the participants be prepared for this purpose.
The initiative is aimed at the community, as well as local and regional public and private organizations. It will bring together speakers and participants from the fields of culture, spirituality, tourism and heritage, who will conduct a dialogue on these topics and their prospects for future development in the central region of Portugal.
The colloquium is held as part of a cross-border project “Kaminos – the Jacobin trails of the western peninsula” (POCTEP Interreg) and enjoy the support of the municipalities of Mealhada and Covilhã.
The Portuguese way is becoming more and more popular
The Camino de Santiago is of great interest to visitors and the number of pilgrims arriving in Santiago de Compostela is increasing. According to the Pilgrims’ Office, the increase in the number of pilgrims along the Portuguese Way has been notorious, which has affected the local economy, namely the accommodation and catering sectors. Turismo Centro de Portugal aims to improve this cultural and religious route.
The cross-border project Caminos – Rede Transborderiça de Caminhos Jacobeus do Oeste Peninsular includes 10 Spanish partners and 3 Portuguese partners and has as its main mission the dissemination of the various routes of the Camino de Santiago, as well as the promotion of its natural and cultural values and its potential tourist.
It also seeks to ensure closer contact between territorial agents in order to create synergies with all social and economic agents associated with the Way, improve equipment, signaling and ICT application on the routes in order to provide them with the necessary infrastructure, thereby increasing the cross-border cultural offer.
It also intends to create conditions for increasing the number of travelers and pilgrims on the various Jacobin routes in the west of the peninsula, promoting the economic development of both territories through tourism-related resources, increasing the competitiveness of the area, increasing employment in the tourism sector and improving the quality of cross-border tourism products and services. .
At the age of 37, CR7 scored in an edition on Qatari soil only in his debut. He scored a penalty goal that paved the way for a long-suffering 3-2 victory over Ghana. Then, in matches against Uruguay and South Korea, he collected missed opportunities, got offside several times and, above all, became the object of even more contestation. from the critics.
Even against the Uruguayans, the No. 7 Portuguese finished the match believing he had scored the first goal in a 2-0 win. and backstage – who touched the ball with his head (or hair) on a cross by Bruno Fernandez, who at the time, and also after a FIFA reassessment, was confirmed as the author.
Is free ball marketbecause the contract was terminated by mutual agreement Manchester United, Ronaldo has only five finishes in the 2022 Cup so far: two correct and three incorrect. Today with nine goals at the world championships, Lionel Messimeanwhile, has 12 shots (eight correct and four incorrect) – only in the group stage.
Even after several controversies in England, the veteran striker could not avoid controversy in the national team. The latter came in the defeat against South Korea, in the last round of group H. He could have been spared, like a large part of the team, but he was kept in the starting lineup, mainly because he wants, among other goals, score nine goals in World Cups and equal his historical compatriot Eusebio And now too Messi.
Between criticism and controversial cases, Cristiano Ronaldo is unlikely to be taken out of the starting XI, especially in the decisive phase. Despite the problems, he remains a big attacking hope for Portugal, who will face Switzerland this Tuesday (6th) at the Lusail Stadium in the round of 16.