SeatGeek is reducing its workforce by 15% in a cost-cutting exercise impacting sites around the world, according to people familiar with the matter.
Employees in New York City and Berlin were among those to announce their departures from SeatGeek on LinkedIn yesterday (Wednesday).
The 15% figure has been repeated by numerous individuals currently listed as SeatGeek staff members on the business networking platform, although the ticketing company has not responded so far to TheTicketingBusiness’ request for clarification.
The news was delivered “abruptly”, according to one employee affected, with software engineers and UX specialists among those to announce their redundancies.
SeatGeek has premium partnerships across sport and also tickets major concerts and theatre productions. It is a partner of numerous major league teams in North America and Europe, including Premier League clubs Liverpool and Manchester City and the NFL’s Dallas Cowboys and Tennessee Titans. Its website also currently offers tickets to see Beyoncé and Kendrick Lamar.
Founded in 2009, SeatGeek has long been linked with a public offering. In 2021, it announced plans to go public in a SPAC deal with RedBall Acquisition Corp. However, the partners later agreed to terminate the SPAC deal due to unfavourable market conditions.
SeatGeek filed confidential IPO papers in April 2023 and has since lined up Morgan Stanley, Citigroup and Wells Fargo as underwriters.
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