An event flag for SXSW blows in the wind after the music and tech festival was canceled over growing concerns related to the coronavirus outbreak in Austin, Texas, U.S. March 6, 2020. REUTERS/Sergio Flores
- SXSW has laid off approximately a third of its full-time staff Monday, as first reported by Wall Street Journal reporter Elizabeth Findell and confirmed by a spokesperson to Business Insider.
- The tech and culture festival was called off on Friday due to coronavirus fears.
- SXSW employs around 175 people year-round, meaning that somewhere around 58 jobs were likely impacted by the layoffs.
- SXSW told the Wall Street Journal on Sunday that its insurance policy did not cover disease-related cancellations, putting the organization in a tough financial position.
- Visit Business Insider's homepage for more stories.
South By Southwest, known as SXSW, laid off roughly one-third of its full-time workforce Monday, as first reported by Wall Street Journal reporter Elizabeth Findell and confirmed by a spokesperson to Business Insider.
"Due to the City of Austin's unprecedented and unexpected cancellation of the SXSW 2020 events in March, SXSW has been rigorously reviewing our operations, and we are in the unimaginable position of reducing our workforce. Today we said goodbye to approximately one-third of our full-time staff," the spokesperson said.
See the rest of the story at Business Insider
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