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TicketsNow to layoff more than 60 from Illinois HQ
Mon, Oct 27th 2008 10:06 am EST
By Alfred Branch Jr.
Trouble has hit the offices of nation's second-largest secondary ticket company TicketsNow with the news that the company is cutting 62 jobs from its Illinois headquarters.
The cuts are primarily from the company's call center, and they among the 300 proposed by parent company Ticketmaster over the summer as part of $35 million in operational savings Ticketmaster is seeking.
Ticketmaster is looking to consolidate its call center at a Texas-based facility, but it is not closing down the TicketsNow headquarters. Speculation about the layoffs began circulating late last week when as many as 150 jobs were believed to be on the chopping block. Another 26 people will be reassigned in the Illinois office to help improve efficiency, according to published reports.
News of the layoffs has done little to improve Ticketmaster's stock (symbol: TKTM), which was trading below $9.30 early today, October 27, down from a high of $27 per share in late August when the stock began trading on Nasdaq. See ticker below.
Since the beginning of the year, Ticketmaster has been acquiring companies, such as TicketsNow and ticketing solutions provider Paciolan, in an effort to grow and stave off the loss of its largest client, Live Nation, which is launching its own ticket operation next year. Ticketmaster also stands to lose its second-largest client, venue operator SMG, by 2010, so it decided to change its name to Ticketmaster Entertainment and make a move into Live Nation's playing field by acquiring Front Line Management, headed by industry heavyweight Irving Azoff, who will assume the CEO position at Ticketmaster Entertainment.
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Comments represent the opinions of users and do not necessarily reflect the views of TicketNews.Ticketsnow or Ticketmaster employees who get canned...contact me, i have work for you.
Leave me an email and i will respond asap.
If you are afraid you may be canned sooner then later, be pro-activ and shove the job up their behinds before they do it to you.
Hey currently imployed by Ticketmaster and TicketsNow. I'm always looking for a 2nd job.
What do you do at TN/TM?
Email?
First top Texas, next stop, India.
I agree that this is the end of TicketsNow (TN). Ticketmaster (TM) got what they wanted... The broker network... Why brand TN given TM is a much stronger brand; and the economy is tough. ROI would be much better with TM while TN would be money down the drain so to speak. Good bye TicketsNow. The writing is on the wall. Hope the TN employees have their resumes ready. LOL.
Not a laughing matter you goofball
Not a laughing matter you goofball
Ticketmaster's service is a joke. Neither I nor my peers have an hour to resolve a ticket issue.
Interesting, what put TicketsNow on the map was it's customer service and attention to detail by it's call center. This was not being met by many in the primary market and welcomed by consumers.
I agree with the above comment. TicketsNow customer service is so much better than Ticketmaster's. I'm afraid Ticketmaster is going to drive TicketsNow to an early grave. I hope this isn't the first step in getting rid of TicketsNow all together.
If TicketsNow starts struggling, who will compete with Stubhub? If anyone?