Meetings management platform Cvent on 21 May began to lay
off about 400 employees, or roughly 10 per cent of its staff. The cuts were
made globally, including in its McLean, Virginia headquarters, the company
confirmed.
"Furloughs and layoffs have greatly impacted
professionals across the meetings, events and hospitality industries – industries
that we directly support," the company said in a statement. "As the
pandemic initially took hold, we aggressively pursued multiple expense
reduction measures.”
Cvent added that it has "expanded and enhanced our
virtual meetings offerings to support clients in the current environment and
[remains] steadfast in our commitment to the power of in-person meetings and to
the long-term prospects for face-to-face events. We believe with today's
actions we have positioned the company to weather the current storm and thrive
as the industry returns."
Prior to the effects of the coronavirus pandemic, Cvent had
been in hiring mode, adding 1,000 employees in 2018 and as of May 2019 planned
to add another 1,000 in 2019.
Earlier this month, Cvent announced it was pivoting its live
Cvent Connect convention in Las Vegas to a virtual event, taking place 25-26 August.
The company did not provide further information.