Max SteventonTicketmaster has reduced its workforce by around 350 employees across 25 countries, according to reports by Pollstar.
The cuts represent about 8% of the company’s global staff and mainly affect engineering, product and design teams. Contractor roles were also reduced.
The company said the restructuring is intended to focus resources on a smaller number of projects and bring more software development work in-house. Ticketmaster’s executive leadership team has not changed.
The layoffs were announced shortly after parent company Live Nation reported Q1 revenue of $3.8bn, with an operating loss of $371 million.
The move comes as Live Nation and Ticketmaster continue to face legal and regulatory scrutiny over their position in the live entertainment and ticketing market. In April, a federal jury found Live Nation had operated an illegal monopoly in violation of antitrust laws.
Ticketmaster global president Saumil Mehta told Pollstar: “The purpose of [these cuts] is stronger prioritization, especially in engineering product and design. That comes with flattening layers, consolidating ownership, changing how teams are structured and ensuring that we put more energy behind specific initiatives.”