Dutch dance music event organiser ID&T has announced that 40 per cent of jobs will be eliminated due to pressures related to the COVID-19 pandemic.
The firm, which is owned by LiveStyle, the largest global producer of live events and digital entertainment content focused on electronic music, informed its staff today (Monday) about its plan to implement a “drastic reorganisation.”
Staff have been given the opportunity to submit ideas prior to the redundancy plan being finalised.
Ritty van Straalen, chief executive of ID&T, said: “ID&T originated from a group of close friends with the same passion; bringing people together. This culture is still the foundation of the company almost 30 years later. These are therefore very difficult and emotional times for ID&T and of course all our employees.
“The impact of this crisis on our industry is unprecedented. Despite the fact that we also make use of government regulations and have reached a settlement with three of our four insurers in the dispute about the applicability of the insurance earlier this year, the losses are taking on enormous proportions and there is no clear view on what will happen next.
“Unfortunately, this means also for us that we can no longer avoid preparing for a worse scenario, in which it may still take a considerable time before we are fully operational again.”
ID&T has been responsible for creating many large electronic festivals, including Mysteryland, Awakenings and Amsterdam Open Air.