New York, New York-based StubHub, a ticket exchange and resale platform for sports, concerts, theater, and other live entertainment events, has announced the closure of its San Francisco, California, and Shanghai, China offices by the end of 2022. Operations will be transferred to the company's offices in Los Angeles, California, and New York, New York offices.
The closure will impact all San Francisco offices, estimated at 168 employees.
StubHub CEO Eric Baker noted, "After much thought and consideration, we announced that we are winding down our presence in San Francisco and Shanghai by the end of this year and will subsequently focus on building our offices in New York and Los Angeles as key hubs for in-person work. This unfortunately means that we will be letting go of the majority of our employees in both locations. We thank all of them for their dedication to our company and we’re committed to treating them with dignity and respect in the transition."
"We did not come to this difficult decision lightly. While our business is performing strongly, our leadership team recognized the need to streamline and optimize operations following the merger of StubHub and viagogo, and the move is firmly aligned with our strategy and model moving forward."
"What comes next? We will continue in our mission to become the premier live entertainment company in the world and are committed to building the business sustainably to achieve this goal."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?