EMCC European Monitoring Centre on Change

NEC Group

Company/Organisation:
NEC Group

Geographic Location

Country: United Kingdom
Region: Birmingham; West Midlands; West Midlands
Location of affected unit(s): Birmingham and other locations

Company

Sector: Arts / entertainment
Arts, entertainment and recreation
93.29 - Other amusement and recreation activities
Number Employed: 820
Group: NEC Group

Employment Effects

Announcement Date: 16-09-2020
Planned Job Reductions min: 450
Planned Job Reductions max: 450
Type of Restructuring: Internal restructuring
Foreseen End Date: 01-12-2020

Additional Information

The National Exhibition Centre Group (NEC Group), the UK-based live events business has confirmed that it will cut 450 jobs due to the impact of the COVID-19 pandemic on live events.

The chief executive said the company was 'greatly impacted' by the health crisis and it was necessary to 'reduce its cost base significantly' to secure its future post-pandemic. The company said its annual revenues fell from £160 million (€176 million as at 16 October 2020) to almost zero between March and September 2020. The company and its employees have benefitted from the Coronavirus Job Retention Scheme, which ends in October, however, due to the low level of activity, they will not be able to benefit from the Job Support Scheme that replaces it.

The NEC Group operates a number of large venues, such as the National Exhibition Centre and Resorts World Arena, as well as a number of catering and hospitality companies. The Group organises many of the largest exhibitions in the UK, including the international dog show Crufts as well as conferences, music and sports events.

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