Event management company Vbase says a "substantial downsizing" of staff is inevitable under the Covid-19 climate.
In a statement supplied to Star News, Vbase said all events at the venues it manages, including the Christchurch Town Hall and Hagley Oval, had been either cancelled or postponed due to the Covid-19 pandemic.
The city council-controlled company also said it had experienced a 100 per cent loss of revenue from March 17 and for the foreseeable future.
It states while in the short term all staff have managed to be retained due to the Government's wage subsidy package, this was unlikely to remain the case.
"While this will keep the team together until 19 June it is inevitable a substantial downsizing of the Vbase workforce will be required at that time. This will of course be subject to consultation, however, with a 100 per cent loss of revenue for six months, and slow recovery thereafter, options are limited.
"It is likely a core team will be retained to protect critical capability and institutional knowledge, and accelerate a business improvement programme of work to ensure a better, stronger Vbase emerges from these difficult and distressing circumstances."
This comes after Dunedin Venues Management Ltd confirmed it had to reduce its workforce from 32 to 16 as it faces the prospect of few to no events being held at its venues for an extended period.
