SFX Entertainment plans to cut its New York staff by 50

By Sheri Kasprzak

New York, April 7 – SFX Entertainment, Inc. announced Thursday that it plans to trim its New York staff by about 50 employees, according to a company statement.

All impacted employees receive 90 days’ notice and will earn full salary and benefits in the interim.

The move was made as part of the company’s reorganization plan.

SFX, as previously reported, filed for Chapter 11 bankruptcy protection on Feb. 1 under case number 16-10238.

The company is currently in talks to sell its Beatport, Fame House and Flavorus subsidiaries.

At the end of March, Robert. F.X. Sillerman resigned as chief executive officer but remains chairman of the company’s board. Mike Katzenstein of FTI consulting, Inc., who serves as the company’s chief restructuring officer, has taken on the dual role of interim chief executive officer.

Based in New York, SFX produces live events and entertainment content.

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