Eventbrite Inc. said on Tuesday it will eliminate about 8 percent of the company’s workforce, as the ticketing service provider looks to cut costs amid worries of an economic downturn.
Shares of the company were up nearly 3 percent at $9 in extended trading.
The company joins a growing list of firms in corporate America—from tech companies and Wall Street banks to online furniture retailer Wayfair Inc.—that have reduced their workforce in the face of recessionary fears.
Eventbrite said it also plans to relocate about 30 percent of the remaining roles, including moving certain development roles to Spain and India from Argentina and the U.S. The company added it will relocate nearly all of the customer support and operations roles to locations outside the United States….