Oct 16, 2020

16 Oct 2020 Midlands Business Jon Robinson Birmingham-headquartered NEC Group has confirmed it will cut about 450 jobs, more than half of its permanent workforce, as a result of the ongoing impact of the Covid-19 pandemic. The news comes after the events giant revealed plans to carry out an organisation review in September . At the time, the company said it has been "greatly impacted" by the crisis, with pre-pandemic annual revenues of £160m falling to almost zero between the middle of March and September. The job cuts equate to 55 per cent of the group's permanent workforce. The operator of the NEC, ICC, Vox, Utilita Arena Birmingham and Resorts World Arena, plus The Ticket Factory, Amadeus catering and hospitality company Amplify, has said it faces the prospect of a total period of about 18 months with minimal activity and almost zero revenue. This includes time to get back to pre-pandemic operational levels. Group chief executive Paul Thandi said: "It has been an extremely difficult decision to make, but if we have any chance of surviving the current market conditions, and returning to being a major economic contributor, post-pandemic, we must reduce our cost base significantly. "The retraction of the 1 October date, which would have permitted us to hold trade exhibitions and conferences with over 30 visitors, was a major blow. "Like all major venues, the group has implemented stringent safety measures to ensure its venues can safely host business events and conferences, and welcome back the staff who have been on furlough since April. "For companies like us, with minimal levels of activity, we are unable to make use of the Government’s recently announced Job Support Scheme. "This, together with this sector’s inability to access the £1.57bn culture support package, has added to what has become an unsustainable position. "Live events are integral to long-term economic recovery. We ask that the Government work with strategic economic assets like us, to ensure that a balanced and fast-moving economy remains to face the challenges beyond 2020." TAGS