Meetings management platform Cvent on May 21 began to lay off about 400 employees, or roughly 10 percent of its staff. The cuts were made globally, including in its McLean, Va., 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 Aug. 25-26.
The company did not provide further information.