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NEC Group to axe more than half of workforce

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.

For the full story, head over to our sister site TheStadiumBusiness.com. 

Image: NEC Group