NEW YORK (CelebrityAccess) — Following the announcement of the cancellation of this year’s Christmas Spectacular, MSG Entertainment has laid off approximately a third of its corporate workforce.
According to the New York Post, the entertainment company, which operates Radio City Music Hall and Madison Square Garden, laid off approximately 350 employees.
MSG Sports employees also faced layoffs and cut 50 staff positions, which is roughly 15% percent of their employees, the Post reported.
Employees affected by layoffs will receive a severance and benefit package, as well as outplacement support, the Post added.
A spokesperson for both companies confirmed the layoffs to CelebrityAccess.
“This was a difficult decision for both companies, as we know that our success rests on the strength of our people, who consistently set the industry standard for excellence and professionalism,” said a rep for MSG Entertainment and MSG Sports. “While we believe this is a necessary step to protect the long-term future of our businesses, we continue to actively pursue solutions that will allow us to safely reopen our doors, so we’re able to bring as many employees back as quickly as we can, once a return date for live events is established,” the spokesperson said.
