The Ticket Factory employees are among those impacted by NEC Group’s announcement that more than half its workforce will be made redundant due to the devastating impact of the COVID-19 pandemic on its operations.
The UK group, which operates five venues, including the National Exhibition Centre in Birmingham, said it plans to retain only a base level of staff until it is again able to host a significant volume of large-scale events. Its restructure will potentially impact the permanent positions of approximately 450 people, which equates to around 55% of its permanent workforce.
NEC Group explained that it has brought in almost no revenue since March 2020, compared to £160m in the previous year. It said it faces the prospect of a total period of around 18 months with minimal activity and almost zero revenue. This includes time to get back to pre-pandemic operational levels.
Image: NEC Group