GSMA, the mobile industry association, is cutting 20 per cent of its staff, blaming the cancellation of Mobile World Congress in February in Barcelona. GSMA has around 1,000 staff.
MWC accounts for as much as 80 per cent of the association’s annual revenue. CMO Stephanie Lynch-Habib confirmed the cuts to Bloomberg and said those affected had been informed. Lynch-Habib said the group is expecting a recovery from the outbreak to take around three years. The lay-offs are part of a wider cost-cutting plan looking to save 40 per cent on current year budgets.
Lynch-Habib said MWC Barcelona and related shows would return in 2021. The event is expected to incorporate more remote participation next year, as some people will likely still want to maintain social distancing, she said.